Some channels through which increased inflation tends to reduce economic growth, and vice versa, are studied within a … wedge between the returns to real and financial capital. The effect of inflation on growth is estimated using the random …, covering 170 countries from 1960 to 1993. The cross-country links between inflation and growth are economically and …

Harberger’s superneutrality conjecture contends that, although in theory the mix of direct and indirect taxes affects … investment and growth, in practice tax policy is ineffective as an instrument to promote growth. This paper provides evidence to … support this view by examining the predictions of endogenous growth models driven by human capital accumulation. The empirical …

through the lens of a two-sector neoclassical growth model. We construct a large dataset that covers Soviet Russia during 1928 …-1940 and Tsarist Russia during 1885-1913. We use a two-sector growth model to compute sectoral TFPs as well as distortions and … neoclassical growth model, projections of these estimated wedges imply that Stalin’s economic policies led to welfare loss of -24 …

, or of central bank conservativeness are associated with lower unemployment and inflation. However the forward shifting of … by governments concerned with the costs of inflation and unemployment, as well as with redistribution to particular …

during the Great Depression and through World War II only made the case for stable and low interest rates and directed credit …

competitiveness. A formal theory of inflation in the euro-zone based on an open-economy version of the New Keynesian model is used to … shown that, in effect, this is an inflation tax, requiring high inflation countries to make transfers to low inflation …

the interests of the poor. The clientele of such governments favour unanticipated inflation taxes to erode the real value … of debt service and redistribute income from the rich to the poor. Consequently, inequality sows the seeds for inflation …. Regressions confirm the empirical predictions of the model and show a strong positive relationship between the inflation rate and …

We develop a model of growth driven by successive improvements in `General Purpose Technologies' (GPTs), such as the … second phase that growth starts in earnest. The historical record of productivity growth associated with electrification, and …