Effects of Monetary Policy in a Model with Cash-in-Advance Constraints on R&D and Capital  Accumulation

Maeda, Daiki; Saito, Yuki

Effects of Monetary Policy in a Model with Cash-in-Advance Constraints on R&D and Capital Accumulation

Maeda, Daiki; Saito, Yuki

Institute of Social and Economic Research Discussion Papers, 2020, 1076, 1-25

アクセス数:188件（2025-07-06 14:42 集計）

固定URL: https://hdl.handle.net/11094/75906

論文情報

ファイル出力 EndNote Basic出力 Mendeley出力

タイトル	Effects of Monetary Policy in a Model with Cash-in-Advance Constraints on R&D and Capital Accumulation
著者	著者名 Maeda, Daiki
著者	著者名 Saito, Yuki
キーワード等	Capital accumulation
	CIA constraint
	Endogenous growth
	Monetary policy
	R&D
内容	February 2020. Revised June 2020.
抄録	To examine the effect of monetary policy on economic growth, we formulate an endogenous growth model with cash-in-advance constraints on R&D and capital accumulation as endogenous growth engines. Within this framework, we show that the relationship between economic growth and the nominal interest rate can be an inverted-U shape. Moreover, we demonstrate that the welfare-maximizing level of the nominal interest rate is larger than the growth rate-maximizing level of the nominal interest rate.
出版者	The Institute of Social and Economic Research, Osaka University
収録物名	Institute of Social and Economic Research Discussion Papers
巻(号)	1076
ページ	1-25
刊行年月	2020-06
言語	英語
ハンドルURL	https://hdl.handle.net/11094/75906
PISSN	0473453X
eISSN	24350982
関連情報 (references)	URI https://www.iser.osaka-u.ac.jp/static/resources/docs/dp/2020/DP1076R.pdf
アクセス権	metadata only access
カテゴリ	ディスカッション／ワーキング・ペーパー DP/WP
カテゴリ	Institute of Social and Economic Research Discussion Papers
最終更新日	2020-06

資源タイプ	テクニカルレポート
ローカル資源タイプ	ディスカッション／ワーキング・ペーパー
DCMI資源タイプ	text
DCTERMS.bibliographicCitation	Institute of Social and Economic Research Discussion Papers. 2020, 1076, p. 1-25
DC.title	Effects of Monetary Policy in a Model with Cash-in-Advance Constraints on R&D and Capital Accumulation
DC.creator	Maeda, Daiki
DC.creator	Saito, Yuki
DC.publisher	The Institute of Social and Economic Research, Osaka University
DC.language' scheme='DCTERMS.RFC1766	英語
DC.type' scheme='DCTERMS.DCMIType	text
DCTERMS.issued' scheme='DCTERMS.W3CDTF	2020-06
DC.relation' scheme='DCTERMS.URI	https://www.iser.osaka-u.ac.jp/static/resources/docs/dp/2020/DP1076R.pdf
DC.subject	Capital accumulation
	CIA constraint
	Endogenous growth
	Monetary policy
	R&D
DC.description	February 2020. Revised June 2020.
DCTERMS.abstract	To examine the effect of monetary policy on economic growth, we formulate an endogenous growth model with cash-in-advance constraints on R&D and capital accumulation as endogenous growth engines. Within this framework, we show that the relationship between economic growth and the nominal interest rate can be an inverted-U shape. Moreover, we demonstrate that the welfare-maximizing level of the nominal interest rate is larger than the growth rate-maximizing level of the nominal interest rate.
DC.format	75906
citation_title	Effects of Monetary Policy in a Model with Cash-in-Advance Constraints on R&D and Capital Accumulation
citation_author	Maeda, Daiki
citation_author	Saito, Yuki
citation_publisher	The Institute of Social and Economic Research, Osaka University
citation_language	英語
citation_date	2020-06
citation_journal_title	Institute of Social and Economic Research Discussion Papers
citation_volume	1076
citation_firstpage	1
citation_lastpage	25
citation_public_url	https://hdl.handle.net/11094/75906
citation_abstract_html_url	https://www.iser.osaka-u.ac.jp/static/resources/docs/dp/2020/DP1076R.pdf

Effects of Monetary Policy in a Model with Cash-in-Advance Constraints on R&D and Capital Accumulation

論文情報

論文詳細を表示