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首页> 外文期刊>Journal of Economic Dynamics and Control >On the long-run relationship between inflation and output in a spatial overlapping generations model
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On the long-run relationship between inflation and output in a spatial overlapping generations model

机译：空间重叠世代模型中通货膨胀与产出之间的长期关系

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摘要

The paper builds a model that features spatial differentiation of markets, and then uses it to study, first, the relationship between inflation and the steady-state level of output, and second, the relationship between inflation and the steady-state distribution of output across the economy. A steady-state of the model entails a stationary distribution of money across the locations of the economy. With all else held fixed, a change in the rate of money-growth induces a change in the distribution of money, which leads to a change in labour supply and production throughout the economy. Thus the distribution of money provides a channel through which a change in monetary policy affects real economic activity.
机译：本文建立了一个以市场空间差异为特征的模型，然后使用它来研究通货膨胀与产出的稳态水平之间的关系，其次研究通货膨胀与产出的稳态分布之间的关系。经济。模型的稳态需要在整个经济区域内固定分配货币。在所有其他条件保持不变的情况下，货币增长率的变化会引起货币分配的变化，从而导致整个经济中劳动力供给和生产的变化。因此，货币分配为货币政策的变化影响实际经济活动提供了渠道。

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