Document Type
Article
Publication Date
2004
Abstract
This paper demonstrates a robust proof of the continuous-time transformations of Stockman's cash-in-advance constraints. When the constraint applies to consumption and capital purchases, monetary growth lowers steady state consumption and capital. When the constraint applies only to consumption purchases, monetary growth is superneutral.
Recommended Citation
Kam, Eric, "A note on cash-in-advance constraints in continuous time" (2004). Economics Publications and Research. Paper 9.
http://digitalcommons.ryerson.ca/economics/9
Comments
Also available for download from: http://ideas.repec.org/a/ebl/ecbull/v5y2004i4p1-8.html