عنوان

Money, Inflation, and Capital Formation :

3642585566

9783642585562

b566668

Money, Inflation, and Capital Formation :

[Book]

an Analysis of the Long Run from the Perspective of Overlapping Generations Models

by Leopold Thadden.

Berlin, Heidelberg

Springer Berlin Heidelberg

1999

(ix, 216 pages)

Lecture notes in economics and mathematical systems, 479.

I Money, inflation, and capital formation in the long run: general remarks --; 1 Summary of the literature: theoretical aspects --; 2 Summary of the literature: empirical aspects --; 3 Further reflections on money --; II Money, inflation, and capital formation: the perspective of overlapping generations models --; 5 Variation 1: Imperfect credit markets and asymmetric information --; 6 Variation 2: Random liquidity needs --; 7 Variation 3: Standard cash-in-advance constraint and endogenous savings --; 8 Variation 4: Differentiated goods, multiple means of payment, and money as single outside asset --; 9 Variation 5: Differentiated goods, multiple means of payment, and alternative specifications of government activities --; Summary --; Appendix I: Technology --; Appendix II: Dynamics --; References --; List of Figures.

This book offers a comprehensive analysis of long run effects of inflation on real activity. The first part presents detailed surveys of the theoretical and empirical literature. The second part introduces a monetary version of an overlapping generations economy with production and a single outside asset as a base model and offers thereby a unified framework to organize the debate. Drawing on recent contributions from the theoretical literature and new results established by the author, various modifications to the base model are discussed. These modifications address a diverse range of features such as imperfections in credit markets, random liquidity needs, transaction aspects of money in a context with multiple means of payment, and the coexistence of multiple outside assets. Throughout the second part of the book consistent notation is used, and particular attention is paid to a careful classification of comparative statics and dynamic properties of steady state equilibria.

Economics.

Macroeconomics.

by Leopold Thadden.

Leopold Thadden

[Book]

Y