Money, growth, and the stability of the steady state under myopic perfect foresight

John Z. Drabicki, Akira Takayama

Research output: Contribution to journalArticle


The stability of a monetary growth model is demonstrated. It differs from the standard two- asset model in the presence of interest bearing government debt, the endogenous determination of the money supply and an investment function that is sensitive to interest rates and disposable income.

Original languageEnglish (US)
Pages (from-to)51-54
Number of pages4
JournalEconomics Letters
Issue number1
StatePublished - 1978


ASJC Scopus subject areas

  • Finance
  • Economics and Econometrics

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