HIGHLIGHTS
- who: yy from the Faculty of Economics, Hosei University , Aihara, Machida, Tokyo, Japan have published the article: Inflation, Growth, and Impatience in a Generalized Cash-in-Advance Economy, in the Journal: (JOURNAL)
- what: The authors examine the effect of the growth rate of money supply capital at the steady_state.
SUMMARY
Modern macroeconomics includes many approaches in terms of introducing money, with standard approaches being the money-in-the-utility (MIU), cash-in-advance (CIA), and transaction-cost (TC) approaches. Feenstra succeeded in establishing a functional equivalence between the three approaches, whereby . . .
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