文章基本信息

标题：A note on continuous time models with general cash-in-advance constraints
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作者：Kenji Miyazaki
期刊名称：Economics Bulletin
电子版ISSN：1545-2921
出版年度：2010
卷号：30
期号：4
页码：2856-2863
出版社：Economics Bulletin
摘要：This note completely characterizes continuous time models with general cash-in-advance constraints in that money is demanded for purchasing not only consumption goods but also for making all or some investments. Examining the three-dimensional dynamics of an exogenous growth model with general cash-in-advance constraints is unique. Comparative static analysis shows that increased inflation or a strengthened cash-in-advance constraint lowers the level of the capital stock in the long run. We also show that the steady state is locally stable