School of Economics | Monetary Growth Theory
975
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14 Oct

Posted at 00:15h in SOE by
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James Tobin (1965) presented a simple model of monetary growth which follows the Solowian model (which Tobin had independently developed in a 1955 model) in all respects plus one: the existence of government debt (net "outside" wealth). For our purposes, let us assume there is only one...