haku: @author Marquis, M. / yhteensä: 4
viite: 3 / 4
| Tekijä: | Marquis, M. Reffett, K. |
| Otsikko: | The inflation tax in a convex model of equilibrium growth |
| Lehti: | Economica
1995 : FEB, VOL. 62:245, p. 109-122 |
| Asiasana: | INFLATION GROWTH MODELS |
| Kieli: | eng |
| Tiivistelmä: | A general equilibrium monetary economy is described that exhibits equilibrium growth. The production technology is consistent with Jones and Manuelli (1990) and Rebelo (1991). The inflation tax and nominal interest rates are shown to be inversly related to the equilibrium growth rates of real variables until a critical point is reached. At this point, equilibrium growth is eliminated and the predictions of Stockman (1981) and Abel (1985) concerning the "level effects" of distortionary monetary policy appear. |
SCIMA