O'Reilly logo

Selected Essays in Monetary Economics (Collected Works of Harry Johnson) by Harry Johnson

Stay ahead with the world's most comprehensive technology and business learning platform.

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, tutorials, and more.

Start Free Trial

No credit card required

CHAPTER IV

MONEY IN A NEO-CLASSICAL ONE-SECTOR GROWTH MODEL*

images

The neo-classical one-sector growth model has become a standard piece of equipment in the economic theorist’s tool kit. Nevertheless, most of the available expositions of it are needlessly complicated and mathematical, and tend to obscure the simplicity of the central analytical propositions. Moreover, these expositions are for the most part confined to the case of a non-monetary economy. The purpose of this essay is to present a geometrical exposition of the one-sector growth model for the simplest possible case,1 and to apply it to the analysis of the role of money in such a model. ...

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, interactive tutorials, and more.

Start Free Trial

No credit card required