Title of article
Money andcapital
Author/Authors
S. Bora?gan Aruoba، نويسنده ,
Issue Information
روزنامه با شماره پیاپی سال 2011
Pages
19
From page
98
To page
116
Abstract
The effectsofmoney(anticipatedinflation)oncapitalformationisaclassicissuein
macroeconomics.Previouspapersadoptreduced-formapproaches,puttingmoneyin
theutilityfunction,orimposingcashinadvance,butusingotherwisefrictionless
models.Wefollowinsteadaliteraturethattriestobeexplicitaboutthefrictions
makingmoneyessential.Thisintroducesnewelements,includingatwo-sector
structurewithcentralizedanddecentralizedmarkets,stochastictradingopportunities,
and bargaining.Theseelementsmatterquantitativelyandnumericalresultsdifferfrom
findingsinthereduced-formliterature.Theanalysisalsoreducesagapbetween
microfoundedmonetaryeconomicsandmainstreammacro
Journal title
Journal of Monetary Economics
Serial Year
2011
Journal title
Journal of Monetary Economics
Record number
846458
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