On the Nonlinear Relationship between Inflation and Growth: A Theoretical Exposition
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DOI: 10.1016/j.jmoneco.2017.12.001
Abstract: This study introduces cash-in-advance constraints into an R&D-based model of endogenous growth in which agents’abilities to develop new goods are heterogeneous. We demonstrate that the negative effect of inflation on long-term growth is weaker in… read more here.
Keywords: growth theoretical; relationship inflation; nonlinear relationship; growth ... See more keywords