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|Title:||Endogenous monetary growth rules and determinacy in cash-in-advance models|
|Citation:||Economics Bulletin, 2004; 5(11):1-9|
|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; Sunspots|
|Rights:||© Economics Bulletin|
|Appears in Collections:||Economics publications|
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