Money, Inflation, and Capital Formation

1. Front Matter

   Pages i-ix

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2. Introduction

   1. Introduction

      • Leopold von Thadden

      Pages 1-3

3. Money, inflation, and capital formation in the long run: general remarks

   1. Front Matter

      Pages 5-5

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   2. Summary of the literature: theoretical aspects

      • Leopold von Thadden

      Pages 7-18

   3. Summary of the literature: empirical aspects

      • Leopold von Thadden

      Pages 19-28

   4. Further reflections on money

      • Leopold von Thadden

      Pages 29-41

4. Money, inflation, and capital formation: the perspective of overlapping generations models

   1. Front Matter

      Pages 43-43

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   2. The Diamond model with money as single outside asset

      • Leopold von Thadden

      Pages 45-64

   3. Variation 1: Imperfect credit markets and asymmetric information

      • Leopold von Thadden

      Pages 65-81

   4. Variation 2: Random liquidity needs

      • Leopold von Thadden

      Pages 82-98

   5. Variation 3: Standard cash-in-advance constraint and endogenous savings

      • Leopold von Thadden

      Pages 99-112

   6. Variation 4: Differentiated goods, multiple means of payment, and money as single outside asset

      • Leopold von Thadden

      Pages 113-152

   7. Variation 5: Differentiated goods, multiple means of payment, and alternative specifications of government activities

      • Leopold von Thadden

      Pages 153-165

   8. Summary

      • Leopold von Thadden

      Pages 166-168

5. Back Matter

   Pages 169-199

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This book is a slightly revised version of my doctoral thesis which I wrote during my time as an assistant at the Faculty of Economics of the University of Magdeburg. I am grateful that I had the opportunity to write my the­ sis in the stimulating atmosphere of this young and lively faculty. lowe a great amount of gratitude to my supervisor Prof. G. Schwodiauer who con­ stantly encouraged my work and helped to improve it in many discussions. I also would like to thank Prof. K-H. Paque and Prof. P. Flaschel who, as members of my doctoral committee, commented on various details of this study in a very constructive manner. At various stages of my work I received helpful comments from many colleagues of mine, in particular T. Konig and A. Wohrmann. However, it goes without saying that I retain full responsi­ bility for all remaining errors. Contents Introduction 1 I Money, inflation, and capital formation in the long run: general remarks 5 1 Summary of the literature: theoretical aspects 7 2 Summary of the literature: empirical aspects 19 3 Further reflections on money 29 II Money, inflation, and capital formation: the perspective of overlapping generations models 43 4 The Diamond model with money as single outside asset 45 4. 1 The model. . . . . . . . 46 4. 2 Equilibrium conditions. 51 4. 3 Policy effects 58 4. 4 Discussion. 61 4. 5 Appendix . 63 5 Variation 1: Imperfect credit markets and asymmetric information 65 5. 1 The model. . . . . . . .

• Geldtheorie
• Inflation
• Intertemporal Macroeconomic Theory
• Intertemporale makroökonomische Theorie
• Modelle überlappender Generationen
• Monetary Growth Theory
• Monetary Theory
• Monetäre Wachstumstheorie
• Overlapping Generations Models
• production

• Deutsche Bundesbank, Hauptabteilung Volkswirtschaft, Frankfurt/Main, Germany

  Leopold Thadden

Policies and ethics