seigniorage finance. This leads to an increase in inflation which, in turn, reduces capital accumulation and growth. At the … of the government's budget constraint, we find strong evidence to support these predictions under different estimation …

the US, the Eurozone, Australia, Canada, Japan and the UK using fractional integration and cointegration techniques …

maximum likelihood estimation of the parameters in the model, we use an expectation maximization algorithm based on the state …

-run output equation with a coefficient equal to the share of capital (α). The long-run theory is tested using quarterly data on … results support the long-run theory. The existence of long-run relations between real output, foreign output and real oil … steadily over the past three decades, the theory suggests that the effect of oil income on the economy’s steady state growth …

In this paper we analyse the short- and long-run relationship between employment growth, inflation and output growth in … growth, inflation and output growth with bidirectional causality between employment growth and inflation as well as output … growth, giving support to Phillips' Golden Triangle theory …