Effects of monetary transactions costs on economic growth

被引：0
|
作者：
Watanabe, Akane [1 ]
Yakita, Akira [2 ]
机构：
[1] Nanzan Univ, Grad Sch Social Sci, Nagoya 4668673, Japan
[2] Nanzan Univ, Fac Econ, Nagoya 4668673, Japan
来源：
RESEARCH IN ECONOMICS | 2023年 / 77卷 / 02期
关键词：
Transactions costs; Cash-in-advance constraint; Balanced growth; CASH; INFLATION; DEMAND; MODEL;
D O I：
10.1016/j.rie.2023.02.003
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This study explores the effects of monetary transaction costs on economic growth in a closed overlapping generations economy with cash-in-advance constraints. Working generations can also hold interest-bearing capital claims. Economic growth is powered by an engine of learning-by-doing and knowledge spillover among workers. The results indicate that reductions in trans-action costs raise the balanced growth rate and possibly reduce long-term inflation and nominal interest rates.
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页码：221 / 225
页数：5
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