Effects of monetary transactions costs on economic growth

IF 1.2 Q3 ECONOMICS Research in Economics Pub Date : 2023-06-01 DOI:10.1016/j.rie.2023.02.003

Akane Watanabe , Akira Yakita

引用次数: 0

Abstract

This study explores the effects of monetary transaction costs on economic growth in a closed overlapping generations economy with cash-in-advance constraints. Working generations can also hold interest-bearing capital claims. Economic growth is powered by an engine of learning-by-doing and knowledge spillover among workers. The results indicate that reductions in transaction costs raise the balanced growth rate and possibly reduce long-term inflation and nominal interest rates.

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货币交易成本对经济增长的影响

本研究探讨了在具有提前现金约束的封闭重叠世代经济中，货币交易成本对经济增长的影响。工薪阶层也可以持有有息资本债权。经济增长是由一个边做边学和工人知识溢出的引擎推动的。结果表明，交易成本的降低提高了平衡增长率，并可能降低长期通胀和名义利率。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Research in Economics ECONOMICS-

CiteScore

1.40

自引率

0.00%

发文量

审稿时长

89 days

期刊介绍： Established in 1947, Research in Economics is one of the oldest general-interest economics journals in the world and the main one among those based in Italy. The purpose of the journal is to select original theoretical and empirical articles that will have high impact on the debate in the social sciences; since 1947, it has published important research contributions on a wide range of topics. A summary of our editorial policy is this: the editors make a preliminary assessment of whether the results of a paper, if correct, are worth publishing. If so one of the associate editors reviews the paper: from the reviewer we expect to learn if the paper is understandable and coherent and - within reasonable bounds - the results are correct. We believe that long lags in publication and multiple demands for revision simply slow scientific progress. Our goal is to provide you a definitive answer within one month of submission. We give the editors one week to judge the overall contribution and if acceptable send your paper to an associate editor. We expect the associate editor to provide a more detailed evaluation within three weeks so that the editors can make a final decision before the month expires. In the (rare) case of a revision we allow four months and in the case of conditional acceptance we allow two months to submit the final version. In both cases we expect a cover letter explaining how you met the requirements. For conditional acceptance the editors will verify that the requirements were met. In the case of revision the original associate editor will do so. If the revision cannot be at least conditionally accepted it is rejected: there is no second revision.