<?xml version="1.0" encoding="ISO-8859-1"?><article xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
<front>
<journal-meta>
<journal-id>0185-1667</journal-id>
<journal-title><![CDATA[Investigación económica]]></journal-title>
<abbrev-journal-title><![CDATA[Inv. Econ]]></abbrev-journal-title>
<issn>0185-1667</issn>
<publisher>
<publisher-name><![CDATA[Universidad Nacional Autónoma de México, Facultad de Economía]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S0185-16672000000200067</article-id>
<title-group>
<article-title xml:lang="es"><![CDATA[Expansión monetaria y crecimiento económico: una visión alternativa]]></article-title>
<article-title xml:lang="en"><![CDATA[Monetary expansion and economic growth: an alternative view]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Romero]]></surname>
<given-names><![CDATA[José]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,El Colegio de México  ]]></institution>
<addr-line><![CDATA[ D F.]]></addr-line>
<country>México</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>06</month>
<year>2000</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>06</month>
<year>2000</year>
</pub-date>
<volume>60</volume>
<numero>232</numero>
<fpage>67</fpage>
<lpage>90</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_arttext&amp;pid=S0185-16672000000200067&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_abstract&amp;pid=S0185-16672000000200067&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.mx/scielo.php?script=sci_pdf&amp;pid=S0185-16672000000200067&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen En este trabajo se presenta un modelo alternativo al modelo tradicional de crecimiento. En lugar de suponer una oferta inelástica de trabajo se supone la existencia de exceso de mano de obra en la economía. En el modelo se establece que dicho exceso se debe a una insuficiencia de bienes de capital en la economía, y que el remedio a tal situación está, precisamente, en utilizar parte de ese exceso de mano de obra en construir bienes de capital. En tal sentido se recomienda una expansión del gasto de inversión financiado con dinero nuevo y orientado a la construcción de cierto tipo de bienes de capital. Este tipo de bienes de capital debe ser aquel que en su construcción no se utilice capital; lo anterior es con el propósito de no distraer a ese factor de otros usos. Al hacer esto se logra acelerar la acumulación de capital permanentemente sin sacrificar la producción de otros bienes. La expansión monetaria orientada en el sentido descrito no perjudica a nadie en términos absolutos de manera permanente por lo que el costo inflacionario es mínimo y transitorio; después de la expansión monetaria los precios pueden incluso bajar.]]></p></abstract>
<abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract This paper presents an alternative to the traditional model of growth. Instead of assuming an inelastic work supply, this alternative model pre-supposes the existence of surplus labour in the economy. The model establish that said surplus is due to insufficient capital goods in the economy, and that the remedy to the situation lies precisely in utilizing part of the surplus labour in the construction of capital goods. Hence the model recommends an expansion of investment spending, financed by new money and orientated towards the construction of particular types of capital goods. This kind of capital goods should be the sort that does not require the use of capital in its construction, so that any money available is not diverted from other areas of need in the economy. Thus, operating this system of employing surplus labour in the construction of capital projects without actually investing capital, has the effect of accelerating the permanent accumulation of capital without having to forego the production of other goods. Monetary expansion thus rientated, does not prejudice anyone permanently in absolute terms. As a result, the inflationary cost is minimal and transitory, and prices may even come down following monetary expansion.]]></p></abstract>
</article-meta>
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