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Contrasting Models of the Effect of Inflation on Growth
. The paper formulates a nesting model for studying the theoretical literature on inflation and endogenous growth. It analyses different classes of endogenous growth models, with different usage of physical and human capital, with different exchange technologies. First, the paper shows that a broad...
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| Published in: | Journal of economic surveys 2005-02, Vol.19 (1), p.113-136 |
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| Main Authors: | , |
| Format: | Article |
| Language: | English |
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| cited_by | cdi_FETCH-LOGICAL-c5371-f901cf9a001fde677b189e0441a870b51e13d372c5cef20729c9e446ba6a7e173 |
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| cites | cdi_FETCH-LOGICAL-c5371-f901cf9a001fde677b189e0441a870b51e13d372c5cef20729c9e446ba6a7e173 |
| container_end_page | 136 |
| container_issue | 1 |
| container_start_page | 113 |
| container_title | Journal of economic surveys |
| container_volume | 19 |
| creator | Gillman, Max Kejak, Michal |
| description | . The paper formulates a nesting model for studying the theoretical literature on inflation and endogenous growth. It analyses different classes of endogenous growth models, with different usage of physical and human capital, with different exchange technologies. First, the paper shows that a broad array of models can all generate significant negative effects of inflation on growth. Second, it shows that these models can be differentiated primarily by the fact whether there is a Tobin‐type effect of inflation and also whether the inflation–growth effect becomes weaker as the inflation rate rises, a non‐linearity, or stays essentially constant over the range of inflation rates. The paper compares these features of the models to empirical evidence as a way to summarize the efficacy of the models. |
| doi_str_mv | 10.1111/j.0950-0804.2005.00241.x |
| format | article |
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The paper formulates a nesting model for studying the theoretical literature on inflation and endogenous growth. It analyses different classes of endogenous growth models, with different usage of physical and human capital, with different exchange technologies. First, the paper shows that a broad array of models can all generate significant negative effects of inflation on growth. Second, it shows that these models can be differentiated primarily by the fact whether there is a Tobin‐type effect of inflation and also whether the inflation–growth effect becomes weaker as the inflation rate rises, a non‐linearity, or stays essentially constant over the range of inflation rates. 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The paper formulates a nesting model for studying the theoretical literature on inflation and endogenous growth. It analyses different classes of endogenous growth models, with different usage of physical and human capital, with different exchange technologies. First, the paper shows that a broad array of models can all generate significant negative effects of inflation on growth. Second, it shows that these models can be differentiated primarily by the fact whether there is a Tobin‐type effect of inflation and also whether the inflation–growth effect becomes weaker as the inflation rate rises, a non‐linearity, or stays essentially constant over the range of inflation rates. The paper compares these features of the models to empirical evidence as a way to summarize the efficacy of the models.</abstract><cop>Oxford, UK; Malden, USA</cop><pub>Blackwell Publishing Ltd/Inc</pub><doi>10.1111/j.0950-0804.2005.00241.x</doi><tpages>24</tpages></addata></record> |
| fulltext | fulltext |
| identifier | ISSN: 0950-0804 |
| ispartof | Journal of economic surveys, 2005-02, Vol.19 (1), p.113-136 |
| issn | 0950-0804 1467-6419 |
| language | eng |
| recordid | cdi_proquest_miscellaneous_38075231 |
| source | EBSCOhost Business Source Ultimate; International Bibliography of the Social Sciences (IBSS); EBSCOhost Econlit with Full Text; Wiley-Blackwell Read & Publish Collection |
| subjects | Balanced-growth-path Business cycles Calibration Cash-in-advance Comparative studies Correlation analysis Economic growth Economic models Economic theory Endogenous growth Growth models Human capital Inflation Mathematical models Monetary economics Monetary policy Output rate |
| title | Contrasting Models of the Effect of Inflation on Growth |
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