Basci, Erdem and Erdogan, Ayse M. and Saglam, Ismail (2006): Money, Tobin Effect, and Incerasing Returns.
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Abstract
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 |
|---|---|
| Institution: | Bogazici University |
| Original Title: | Money, Tobin Effect, and Incerasing Returns |
| Language: | English |
| 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 |
| Item ID: | 1904 |
| Depositing User: | Ismail Saglam |
| Date Deposited: | 25 Feb 2007 |
| Last Modified: | 12 Oct 2019 23:53 |
| URI: | https://mpra.ub.uni-muenchen.de/id/eprint/1904 |
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