INFLATION AND GROWTH: A NON-MONOTONIC RELATIONSHIP IN AN INNOVATION-DRIVEN ECONOMY
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DOI: 10.1017/s1365100519000622
Abstract: This paper investigates the effects of monetary policy on long-run economic growth via different cash-in-advance (CIA) constraints on R&D in a Schumpeterian growth model with vertical and horizontal innovations. The relationship between inflation and growth… read more here.
Keywords: non monotonic; growth; inflation; monotonic relationship ... See more keywords