STEADY-STATE REAL EFFECTS OF INFLATION IN A HECKSCHER–OHLIN CASH-IN-ADVANCE MODEL
學年 93
學期 1
出版（發表）日期 2004-11-01
作品名稱 STEADY-STATE REAL EFFECTS OF INFLATION IN A HECKSCHER–OHLIN CASH-IN-ADVANCE MODEL
作品名稱（其他語言）
著者 莊希豐; Chuang, Shi-feng
單位 淡江大學經濟學系
出版者 Cambridge University Press
著錄名稱、卷期、頁數 Macroeconomic dynamics 8(5), pp.633-647
摘要 This paper explores the possible real effects of inflation within a two-sector neoclassical growth model of the Heckscher–Ohlin type with a cash-in-advance constraint on the purchases of consumption goods. The main findings are that the relative prices of both factors and of both goods, which are linked via a Stolper–Samuelson relation, depend only on the rate of time preference, not on any monetary variable; that the steady-state level of total capital can be influenced by inflation if the capital intensities and the cash requirements in both sectors differ, leading to Tobin effects or reversed Tobin effects; and that higher inflation unambiguously reduces total labor supply and leads to a reversed Tobin effect in most cases if the labor/leisure choice is endogenized.
關鍵字
語言 en
ISSN 1365-1005
期刊性質 國外
收錄於 SSCI
產學合作
通訊作者
審稿制度
國別 GBR
公開徵稿
出版型式 紙本
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