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An OLG model of production with cash-in-advance constraints

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dc.contributor Graduate Program in Economics.
dc.contributor.advisor Sağlam, İsmail.
dc.contributor.author Sürel, Ayşe Müjde.
dc.date.accessioned 2023-03-16T12:00:24Z
dc.date.available 2023-03-16T12:00:24Z
dc.date.issued 2004.
dc.identifier.other EC 2004 S87
dc.identifier.uri http://digitalarchive.boun.edu.tr/handle/123456789/16374
dc.description.abstract This thesis shows the existence of the unique competitive equilibrium in a cash-in-advance economy involving overlapping generations of producers and workers. Producers have decreasing returns to scale technologies, and both producers and workers face liquidity constraints in the factor and good markets. Necessary and sufficient conditions for the existence of the monetary equilibrium are stated and the equilibrium is fully characterized. Effects of changes in the time preference of the producers, the number of producers, the number of workers and the money growth rate on the equilibrium are analyzed. The analysis reveals that money is not superneutral and that anticipated increases in the growth rate of money may lead to expansionary or contractionary impacts on the economy depending on the allocation of money transfers between young and old producers.|Keywords: Cash-in-advance, decreasing returns, limited participation, overlapping generations, superneutrality of money.
dc.format.extent 30cm.
dc.publisher Thesis (M.A.)-Bogazici University. Institute for Graduate Studies in Social Sciences, 2004.
dc.relation Includes appendices.
dc.relation Includes appendices.
dc.subject.lcsh Monetary policy -- Econometric models.
dc.subject.lcsh Equilibrium (Economics)
dc.subject.lcsh Generations -- Economic aspects.
dc.title An OLG model of production with cash-in-advance constraints
dc.format.pages vi, 38 leaves;


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