Specialization, Transactions Technologies, and Money Growth

Specialization, Transactions Technologies, and Money Growth

This paper develops a differentiated product model with endogenous specialization in which either money or a costly alternative transactions technology can be used for market purchases. We discuss the real effects of monetary growth in this model-which differ from those in standard cash-in-advance m...

Ausführliche Beschreibung

Gespeichert in:
Bibliographische Detailangaben
Veröffentlicht in:International economic review (Philadelphia) 1992-05, Vol.33 (2), p.283-298
Hauptverfasser: Cole, Harold L., Stockman, Alan C.
Format: Artikel
Sprache:eng
Schlagworte:
Cash
Credit
Economic models
Economics
Financial transactions
Growth rate
Labor costs
Market equilibrium
Monetary growth
Monetary theory
Money
Money supply
Nominal interest rates
Recreation
Specialization
Transaction costs
Vending machines
Online-Zugang:Volltext
Tags: Tag hinzufügen
Keine Tags, Fügen Sie den ersten Tag hinzu!
Beschreibung
Zusammenfassung:This paper develops a differentiated product model with endogenous specialization in which either money or a costly alternative transactions technology can be used for market purchases. We discuss the real effects of monetary growth in this model-which differ from those in standard cash-in-advance models-and the implied interest sensitivity of money demand in general equilibrium.
ISSN:0020-6598
1468-2354
DOI:10.2307/2526895