(In)determinacy, increasing returns, and the optimality of the Friedman rule in an endogenously growing open economy

DOI10.1007/S00199-009-0457-XMaRDI QIDQ976765zbMATH OpenOpenAlexFDO

Authors Ching-Chong Lai, Chi-Ting Chin

Publication date 16 June 2010

Published in Economic Theory (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1007/s00199-009-0457-x

zbMATH Keywords

endogenous growthsmall open economyimperfect capital marketsinvestment adjustment coststhe Friedman rule

Mathematics Subject Classification ID

Special types of economic markets (including Cournot, Bertrand) (91B54) Economic growth models (91B62)

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Cites work

• An Intertemporal Model of Saving and Investment
• Capacity utilization under increasing returns to scale
• Common Currencies vs. Monetary Independence
• Growth and equilibrium indeterminacy: The role of capital mobility.
• Indeterminacy and increasing returns
• Indeterminacy and stabilization policy
• Indeterminacy in a small open economy Ramsey growth model
• Indeterminacy in a small open economy with endogenous labor supply
• Real business cycles and the animal spirits hypothesis
• Saddlepoint Problems in Continuous Time Rational Expectations Models: A General Method and Some Macroeconomic Examples
• The optimality of the friedman rule when some distorting taxes are exogenous
• Tobin's Marginal q and Average q: A Neoclassical Interpretation

Cited in

(9)

• Money, random matching and endogenous growth: a quantitative analysis
• How to reverse a negative asymmetric labor productivity shock in the European Union? A directed technical change analysis with fiscal and monetary policies
• Dynamics in a transactions-based monetary growth model
• Heterogeneity, monetary policy, Mirrleesian taxes, and the Friedman rule
• Monetary rules and endogenous growth in an open economy
• (Non)optimality of the Friedman rule and optimal taxation in a growing economy with imperfect competition
• Money and growth through innovation cycles with leisure
• R\&D and economic growth in a cash-in-advance economy
• Endogenous growth and the Taylor principle

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