Basci, Erdem and Erdogan, Ayse M. and Saglam, Ismail (2006): Money, Tobin Effect, and Incerasing Returns.
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This paper shows that unregulated decentralized equilibrium is viable under increasing returns technologies in an overlapping generations model of production with cash-in-advance constraints. We also demonstrate that the model exhibits both the Tobin effect and the reverse Tobin effect.
|Item Type:||MPRA Paper|
|Original Title:||Money, Tobin Effect, and Incerasing Returns|
|Keywords:||Increasing returns; cash-in-advance constraints; overlapping generations; Phillips curve|
|Subjects:||E - Macroeconomics and Monetary Economics > E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit > E52 - Monetary Policy
D - Microeconomics > D5 - General Equilibrium and Disequilibrium > D51 - Exchange and Production Economies
D - Microeconomics > D9 - Intertemporal Choice > D91 - Intertemporal Household Choice ; Life Cycle Models and Saving
D - Microeconomics > D5 - General Equilibrium and Disequilibrium > D52 - Incomplete Markets
|Depositing User:||Ismail Saglam|
|Date Deposited:||25. Feb 2007|
|Last Modified:||20. Feb 2013 19:29|
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