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    Please use this identifier to cite or link to this item: http://tkuir.lib.tku.edu.tw:8080/dspace/handle/987654321/18992


    Title: STEADY-STATE REAL EFFECTS OF INFLATION IN A HECKSCHER–OHLIN CASH-IN-ADVANCE MODEL
    Authors: 莊希豐;Chuang, Shi-feng
    Contributors: 淡江大學經濟學系
    Date: 2004-11-01
    Issue Date: 2009-09-23 17:14:38 (UTC+8)
    Publisher: Cambridge University Press
    Abstract: 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.
    Relation: Macroeconomic dynamics 8(5), pp.633-647
    Appears in Collections:[經濟學系暨研究所] 期刊論文

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