haku: @author Kling, R. W. / yhteensä: 2
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| Tekijä: | Cutler, H. Kling, R. W. |
| Otsikko: | The cash-in-advance model: optimal policy consideration |
| Lehti: | Quarterly Review of Economics and Business
1990 : SPRING, VOL. 30:1, p.54-63 |
| Asiasana: | ECONOMICS MONETARY ECONOMICS |
| Kieli: | eng |
| Tiivistelmä: | The cash-in-advance model suggests an inverse relationship between money growth and output. This result stems partly from the fact that all money growth is considered as transfer payments. The marginal benefit schedule for money balances gives a higher optimal growth rate than Friedman full-liquidity rule implies. The policy implication is as follows: transfer payments should be financed by monetary expansion. |
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