An analysis of money and endogenous growth theory

• Main Authors: Twu, Yau-Shenq, 涂堯勝
• Other Authors: Shi-Feng Chuang
• Format: Others
• Language: zh-TW
• Published: 1996
• Online Access: http://ndltd.ncl.edu.tw/handle/73162228098958692478

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.