| Summary: | 碩士 === 淡江大學 === 財務金融學系 === 84 === The purposes of this research are to examine whether the
effects of money growth on economic growth are substantial,
and whether money is not supernuatral.
This research develops a neoclassical perfect foresight monetary
growth money model with the Lucas's (1988) two-sector model of
endogenous growth to investigate the effects of the rate of
anticipated nominal money growth on the rate of economic
growth, as well as on the accumulations of human and physic
capital. We investigate the problem of money and endoge- nous
growth in the steady state. In this research, we develop a
cash-in- advance model, money is regarded as a medium of
transaction, and we assume human capital could be transacted
with money. It is shows that a
higher rate of nominal money growth reduces the
accumulations of human and physic capital, and economic growth
in the steady state, money is not superneutral. But if
invesement could be acquired without holding money
(through barter), the economic growth could be
independent of nominal money growth, and money is superneutral.
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