@techreport{NBERw1549,
 title = "Dynamic Behavior of Capital Accumulation in a Cash-in-Advance Model",
 author = "Andrew B. Abel",
 institution = "National Bureau of Economic Research",
 type = "Working Paper",
 series = "Working Paper Series",
 number = "1549",
 year = "1986",
 month = "1986",
 URL = "http://www.nber.org/papers/w1549",
 abstract = {This paper analyzes the dynamic behavior of capital accumulationin Stockman's (1981) cash-in-advance model. If the cash-in-advance constraint applies only to consuittion, then money is superneutral along the transition path as well as in the long run. Alternatively, if the cash-in-advance constraint applies to gross investment as well as consumption, then a permanent increase in the rate of monetary growth reduces the steady state capital stock. The effect on the speed of adjustment depends on the sign of a certain simple function of the parameters of preferences and technology.},
}