政大機構典藏-National Chengchi University Institutional Repository(NCCUR):Item 140.119/131784
English  |  正體中文  |  简体中文  |  Post-Print筆數 : 27 |  Items with full text/Total items : 113324/144300 (79%)
Visitors : 51129296      Online Users : 890
RC Version 6.0 © Powered By DSPACE, MIT. Enhanced by NTU Library IR team.
Scope Tips:
  • please add "double quotation mark" for query phrases to get precise results
  • please goto advance search for comprehansive author search
    •  Adv. Search
    Home ‧ Login ‧ Upload ‧ Help ‧ About ‧ Administer Goto mobile version


    Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/131784


    Title: 貨幣內生成長與通貨膨脹率指標：內生化資本使用率的分析
    Monetary endogenous growth and inflation rate targeting: an analysis of endogenous capital utilization
    Authors: 李胤稼
    Li, Yin-Jia
    Contributors: 賴景昌
    Lai, Ching-Chong
    李胤稼
    Li, Yin-Jia
    Keywords: 現金交易成本
    貨幣內生成長
    資本使用率
    通貨膨脹率指標
    誠實的政府
    Pecuniary transaction costs
    Endogenous growth
    Capital utilization
    Inflation rate targeting
    Honest government
    Date: 2020
    Issue Date: 2020-09-02 12:45:40 (UTC+8)
    Abstract: 本文根據Lai and Chin (2013)模型為基礎架構，考慮貨幣的現金交易成本功能，以及廠商在生產過程中可以選擇使用部分或全部機器設備的設定，建構貨幣內生成長模型。我們將在投資有無調整成本之下進行討論。本文透過模型分析央行通貨膨脹率指標政策對於經濟成長率的影響，並說明政策有效性。
    本文研究發現，當央行提高通貨膨脹率指標水準，在投資無調整成本的情況下，無法確定通貨膨脹率指標的增加對於經濟成長率的影響，而在投資有調整成本的情況下，通貨膨脹率指標的增加會降低經濟成長率。
    Based on Lai and Chin (2013), this thesis builds up a monetary endogenous growth model in which money serves as a mechanism to reduce transaction costs, and then uses it to examine the impact of inflation rate targeting on the economy`s balanced growth rate. Compared with the existing literature, the salient feature of the model is that it allows for the endogenous determination of the capital utilization rate and the presence of investment adjustment costs.
    Two main findings emerge from the analysis. First, in the absence of investment adjustment costs, an increase in the pegged inflation rate may either raise or lower the balanced growth rate. Second, in the presence of investment adjustment costs, a rise in the pegged inflation rate definitely tends to lower the balanced growth rate.
    Reference: 賴景昌 (2018)，開放經濟的內生成長理論。政治大學經濟學研究所上課講義。
    Abel, A. B. and Blanchard, O. J. (1983), “An intertemporal model of saving and investment," Econometrica 51, 675-692.
    Auernheimer, L. (1974), “The honest government`s guide to the revenue from the creation of money,” NBER Working Paper 5326.
    Aznar-Márquez, J. and Ruiz-Tamarit, J. R. (2004), “Endogenous growth, capital utilization and depreciation,” FEDEA Working Paper 2004-21.
    Barro, R. J. (1995), “Inflation and economic growth,” Annals of Economics and Finance 14, 85-109.
    Barro, R. J. (2008), Macroeconomics: A Modern Approach, Boston, MA: South-Western.
    Beaulieu, J. and Mattey, J. (1998), “The workweek of capital and capital utilization in manufacturing,” Journal of Productivity Analysis 10, 199–223.
    Buiter, W. H. (1984), “Saddlepoint problems in continuous time rational expectations models: A general method and some macroeconomic examples,” Econometrica 52, 665–680.
    Burmeister, E. (1980), “On some conceptual issues in rational expectations modeling,” Journal of Money, Credit, and Banking 12, 800–816.
    Chang, W. Y. and Lai, C. C. (2000), “Anticipated inflation in a monetary economy with endogenous growth,” Economica 67, 399-417.
    Chatterjee, S. (2005), “Capital utilization, economic growth and convergence,” Journal of Economic Dynamics and Control 29, 2093–2124.
    Clower, R. (1967), “A reconsideration of the microfoundations of monetary theory,” Economic Inquiry 6, 1-8.
    De Gregorio, J. (1993), “Inflation, taxation, and long-run growth,” Journal of Monetary Economics 31, 271-298.
    DeJong, D. N., Ingram, B. F., Wen, Y. and Whiteman, C. H. (1996), “Cyclical implications of the variable utilization of physical and human capital,” Manuscript, University of Iowa.
    Domar, E. D. (1947), “Expansion and employment,” American Economic Review, 137-147.
    Faria, J. R. and Carneiro, F. G. (2001), “Does high inflation affect growth in the long and short run?” Journal of Applied Economics 4, 89-105.
    Foss, M. F. (1963), “The utilization of capital equipment: Postwar compared with prewar,” Survey of Current Business 43, 8-16.
    Greenwood, J., Hercowitz, Z. and Huffman, G. W. (1988), “Investment, capacity utilization and the real business cycle,” American Economic Review 78, 402-417.
    Gylfason, T. and Herbertsson, T. T. (2001), “Does inflation matter for growth?” Japan and the World Economy 13, 405-428.
    Harrod, R. F. (1939), “An essay in dynamic theory,” The Economic Journal 49, 14-33.
    Hayashi, F. (1982), “Tobin`s marginal q and average q: A neoclassical interpretation,” Econometrica 50, 213-224.
    Hussain, S. and Malik, S. (2011), “Inflation and economic growth: Evidence from Pakistan,” International Journal of Economics and Finance 3, 262-276.
    Ingram, B., DeJong, D., Whiteman, C. and Wen, Y. (1996), “Cyclical implications of the variable utilization of physical and human capital,” Working Papers.
    Jha, S. K., Wang, P. and Yip, C. K. (2002), “Dynamics in a transactions-based monetary growth model,” Journal of Economic Dynamics and Control 26, 611-635.
    Kwon, J. K. (1986), “Capital utilization, economies of scale and technical change in the growth of total factor productivity,” Journal of Development Economics 24, 75-89.
    Kydland, F. E. and Prescott, E. C. (1982), “Time to build and aggregate fluctuations,” Econometrica 50, 1345-1370.
    Lai, C. C. and Chin, C. T. (2013), “Monetary rules and endogenous growth in an open economy,” Macroeconomic Dynamics 17, 431-463.
    Levhari, D. and Patinkin, D. (1968), “The role of money in a simple growth model,” American Economic Review 58, 713-753.
    Lucas, R. E. (1980), “Equilibrium in a pure currency economy,” Economic Inquiry 18, 203-220.
    Lucas, R. E. (1988), “On the mechanics of economic development,” Journal of Monetary Economics 22, 3-42.
    Mallik, G. and Chowdhury, A. (2001), “Inflation and economic growth: Evidence from four south Asian countries,” Asia-Pacific Development Journal 8, 123-135.
    Marris, R., Maclean, I. and Bernau, S. (1964), The Economics of Capital Utilisation, Cambridge, UK: Cambridge University Press.
    Meade, J. E. (1978), “The meaning of internal balance,” Economic Journal 88, 423-435.
    Omay, T. and Kan, E. Ö. (2010), “Re-examining the threshold effects in the inflation-growth nexus with cross-sectionally dependent non-linear panel: Evidence from six industrialized economies,” Economic Modelling 27, 996-1005.
    Orr, J. (1989), “The average workweek of capital in manufacturing, 1952–84,” Journal of the American Statistical Association 84, 88–94.
    Rogoff, K. (1985), “The optimal degree of commitment to an intermediate monetary
    target,” The Quarterly Journal of Economics 100, 1169-1189.
    Romer, P. M. (1986), “Increasing returns and long-run growth,” Journal of Political Economy 94, 1002-1037.
    Sidrauski, M. (1967), “Rational choice and patterns of growth in a monetary economy,” American Economic Review 57, 449-462.
    Solow, R. M. (1956), “A contribution to the theory of economic growth,” The Quarterly Journal of Economics 70, 65-94.
    Stockman, A. C. (1981), “Anticipated inflation and the capital stock in a cash-in-advance economy,” Journal of Monetary Economics 8, 387-393.
    Strulik, H. and Trimborn, T. (2015), “A note on variable capital utilization in growth and business cycle theory,” Macroeconomic Dynamics 19, 1622-1632.
    Tobin, J. (1965), “Money and economic growth,” Econometrica 33, 671-684.
    Tobin, J. (1980), “Stabilization policy ten years after,” Brookings Papers on Economic Activity 1, 19–89.
    Turnovsky, S. J. (1996), “Fiscal policy, growth, and macroeconomic performance in a small open economy,” Journal of International Economics 40, 41–66.
    Turnovsky, S. J. (2000a), “Growth in an open economy: Some recent developments,” National Bank of Belgium Working Paper.
    Turnovsky, S. J. (2000b), Methods of Macroeconomic Dynamics, 2nd ed. Cambridge, MA: MIT Press.
    Vaona, A. (2012), “Inflation and growth in the long run: A new keynesian theory and further semiparametric evidence,” Macroeconomic Dynamics 16, 94-132.
    Wen, Y. (1998), “Capacity utilization under increasing returns to scale,” Journal of Economic Theory 81, 7-36.
    Zhang, J. (2000), “Inflation and growth: Pecuniary transactions costs and qualitative equivalence,” Journal of Money, Credit and Banking 32, 1-12.
    Description: 碩士
    國立政治大學
    經濟學系
    107258010
    Source URI: http://thesis.lib.nccu.edu.tw/record/#G0107258010
    Data Type: thesis
    DOI: 10.6814/NCCU202001267
    Appears in Collections:[Department of Economics] Theses

    Files in This Item:

    File Description SizeFormat
    801001.pdf725KbAdobe PDF2110View/Open


    All items in 政大典藏 are protected by copyright, with all rights reserved.


    社群 sharing

    著作權政策宣告 Copyright Announcement
    1.本網站之數位內容為國立政治大學所收錄之機構典藏，無償提供學術研究與公眾教育等公益性使用，惟仍請適度，合理使用本網站之內容，以尊重著作權人之權益。商業上之利用，則請先取得著作權人之授權。
    The digital content of this website is part of National Chengchi University Institutional Repository. It provides free access to academic research and public education for non-commercial use. Please utilize it in a proper and reasonable manner and respect the rights of copyright owners. For commercial use, please obtain authorization from the copyright owner in advance.

    2.本網站之製作，已盡力防止侵害著作權人之權益，如仍發現本網站之數位內容有侵害著作權人權益情事者，請權利人通知本網站維護人員(nccur@nccu.edu.tw)，維護人員將立即採取移除該數位著作等補救措施。
    NCCU Institutional Repository is made to protect the interests of copyright owners. If you believe that any material on the website infringes copyright, please contact our staff(nccur@nccu.edu.tw). We will remove the work from the repository and investigate your claim.
    DSpace Software Copyright © 2002-2004  MIT &  Hewlett-Packard  /   Enhanced by   NTU Library IR team Copyright ©   - Feedback