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Type: Journal article
Title: Endogenous monetary growth rules and determinacy in cash-in-advance models
Author: Weder, M.
Citation: Economics Bulletin, 2004; 5(11):1-9
Publisher: Economics Bulletin
Issue Date: 2004
ISSN: 1545-2921
Statement of
Mark Weder
Abstract: It is well known that a high degree of relative risk aversion induces equilibrium indeterminacy in cash-in-advance economies. I find that by endogenously adjusting the nominal money supply to output fluctuations, these equilibria can be effectively eliminated.
Keywords: Cash-in-Advance Models
Money Growth Rules
Rights: © Economics Bulletin
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Economics publications

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