This paper studies the links between money, specialization, and capital accumulation in a neoclassical growth framework. For tractability, the transactions role of money is introduced through a ...
Backsolving is a class of methods that generate simulated values for exogenous forcing processes in a stochastic equilibrium model from specified assumed distributions for Euler-equation disturbances.
The latest winner of the Nobel Prize in Economic Sciences is Professor Paul Romer. He achieved this prestigious accolade for his work on endogenous growth theory Professor Paul Romer's theory ...
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