Alternative Approaches To Money And Growth

@inproceedings{Wang1992AlternativeAT,
  title={Alternative Approaches To Money And Growth},
  author={Ping Cheng Wang and Chong Kee Yip},
  year={1992}
}
This paper reexamines the issue of money and growth in an economy with both endogenous labor supply and endogenous capital stock using three recently developed approaches: the money-in-the-utility-function approach, the cash-in-advance approach, and the transactions-costs approach. By establishing a qualitative equivalence between alternative setups, the authors find economically justifiable conditions such that all comparative statics results derived.from the aforementioned approaches are… CONTINUE READING

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