| Author: | Gillman, M. Nakov, A. |
| Title: | A revised Tobin effect from inflation: relative input price and capital ratio realignments, USA and UK, 1959-1999 |
| Journal: | Economica
2003 : AUG, VOL. 70:279, p. 439-450 |
| Index terms: | Inflation Prices United Kingdom USA |
| Language: | eng |
| Abstract: | The realignments iduced by inflation is studied within an endogenous growth monetary economy. Accelerating inflation raises the ratio of the real wage to the real interest rate, and so raises the use of physical capital relative to human capital across all sectors. Cointegration evidence is found for the US and UK economies consistent with a general equilibrium. |
SCIMA