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This paper analyzes the effects of an increase in the monetary growth rate within a dynamic optimizing macroeconomic model. Both the short-run and long-run effects, and therefore the adjustments along the transitional path, depend critically upon the tax structure and the firm's corresponding...
Persistent link: https://www.econbiz.de/10012777378
This paper analyzes the effects of an increase in the monetary growth rate within a dynamic optimizing macroeconomic model. Both the short-run and long-run effects, and therefore the adjustments along the transitional path, depend critically upon the tax structure and the firm's corresponding...
Persistent link: https://www.econbiz.de/10012476936
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The paper examines the role of fiscal and monetary policy on the dynamics of monetary expansion in a macroeconomy. Its microeconomic structure defined by producers with neoclassical production functions, heterogeneous OLG consumers, and a stationary fiscal and monetary policy induces a...
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1. General introduction to the monetary growth theory -- 2. The neo-classical monetary growth theory -- 2 ….1. Introduction -- 2.2. Tobin’s monetary growth theory (implications of the asset-structure) -- 2.3. The implications of real cash …-classical monetary growth model -- 3. The Keynes-Wicksell monetary growth theory -- 3.1. Introduction -- 3.2. Suppositions -- 3.3. The …
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