Kevin L Reffett
Biographic Data
| ID | 5731422 |
|---|---|
| NAME | Kevin L Reffett |
| GIVEN NAMES | Kevin L |
| FAMILY NAME | Reffett |
| SIGNATURE | REFFETT K L |
| VERIFIED | No |
| TOTAL WORKS | 4 |
| TOTAL CITATIONS | 2 |
| AUTHOR COUNT | 4 |
| EDITOR COUNT | 0 |
| FIRST PUBLICATION YEAR | 1992 |
| LATEST PUBLICATION YEAR | 1996 |
| H-INDEX | 1 |
Production-Based Asset Pricing in Monetary Economies with Transactions Costs
A general equilibrium asset pricing model for a monetary economy with capital accumulation, fin and endogenous financial structure is constructed in which there is a meaningful between monetary policy, inflation taxes, investment decisions and private financial arrangements. A differential stochastic liquidity premium applies in equilibrium to consumption and investment purchases. A production version of the capital asset pricing model is constru…
The Inflation Tax in a Convex Model of Equilibrium Growth
A general equilibrium monetary economy is described that exhibits equilibrium growth. The production technology is consistent with Jones and Manuelli (1990) and Rebelo (1991). The inflation tax and nominal interest rates are shown to be inversely related to the equilibrium growth rates of real variables until a critical point is reached. At this point, equilibrium growth is eliminated and the predictions of Stockman (1981) and Abel (1985) concern…
New Technology Spillovers into the Payment System
In modern economies, multiple means of payment associated with the exchange of goods coexist. This paper examines one such payment system in an economy with endogenous technological change. It consists of money and a costly accounting system that receives spillovers from new technologies. Positive nominal interest rates are shown to produce welfare losses by inducing a reallocation of human capital into the payment system, and out of the producti…
Capital in the Payments System
Capital is required to support the payments system in modern economies with well developed financial markets. Financial innovations raise the marginal product of capital in this usage. This suggests that there are general equilibrium consequences associated with an optimal selection of a payments system that includes barter, money, and a capital-based accounting system. In this paper, goods are differentiated with respect to the medium of exchang…
The Inflation Tax in a Convex Model of Equilibrium Growth
A general equilibrium monetary economy is described that exhibits equilibrium growth. The production technology is consistent with Jones and Manuelli (1990) and Rebelo (1991). The inflation tax and nominal interest rates are shown to be inversely related to the equilibrium growth rates of real variables until a critical point is reached. At this point, equilibrium growth is eliminated and the predictions of Stockman (1981) and Abel (1985) concern…
New Technology Spillovers into the Payment System
In modern economies, multiple means of payment associated with the exchange of goods coexist. This paper examines one such payment system in an economy with endogenous technological change. It consists of money and a costly accounting system that receives spillovers from new technologies. Positive nominal interest rates are shown to produce welfare losses by inducing a reallocation of human capital into the payment system, and out of the producti…
Capital in the Payments System
Capital is required to support the payments system in modern economies with well developed financial markets. Financial innovations raise the marginal product of capital in this usage. This suggests that there are general equilibrium consequences associated with an optimal selection of a payments system that includes barter, money, and a capital-based accounting system. In this paper, goods are differentiated with respect to the medium of exchang…
New Technology Spillovers into the Payment System
In modern economies, multiple means of payment associated with the exchange of goods coexist. This paper examines one such payment system in an economy with endogenous technological change. It consists of money and a costly accounting system that receives spillovers from new technologies. Positive nominal interest rates are shown to produce welfare losses by inducing a reallocation of human capital into the payment system, and out of the producti…
The Inflation Tax in a Convex Model of Equilibrium Growth
A general equilibrium monetary economy is described that exhibits equilibrium growth. The production technology is consistent with Jones and Manuelli (1990) and Rebelo (1991). The inflation tax and nominal interest rates are shown to be inversely related to the equilibrium growth rates of real variables until a critical point is reached. At this point, equilibrium growth is eliminated and the predictions of Stockman (1981) and Abel (1985) concern…
Production-Based Asset Pricing in Monetary Economies with Transactions Costs
A general equilibrium asset pricing model for a monetary economy with capital accumulation, fin and endogenous financial structure is constructed in which there is a meaningful between monetary policy, inflation taxes, investment decisions and private financial arrangements. A differential stochastic liquidity premium applies in equilibrium to consumption and investment purchases. A production version of the capital asset pricing model is constru…
Economic theories and models (4 works) · Economics (4 works) · Monetary economics (4 works) · Macroeconomics (3 works) · Economic Growth and Productivity (2 works) · Finance (2 works) · Finance (2 works) · Fiscal Policy and Economic Growth (2 works) · General equilibrium theory (2 works) · Inflation (cosmology) (2 works)