Chu, Angus C.; Cozzi, Guido - School of Economics and Political Science, Universität … - 2013
the effects of monetary policy on economic growth and social welfare in a Schumpeterian model with cash-in-advance (CIA … consumption and R&D (manufacturing), an increase in the nominal interest rate would decrease (increase) R&D and economic growth … interest rate would have an overall negative effect on R&D and economic growth as documented in recent empirical studies. We …