grow faster than small firms under higher inflation. We then construct a model that introduces nominal rigidity into R …

with inflation targeting, characterized by relocation shocks for young agents, which in turn generates a role for money … productive in our model, a higher inflation-target would translate into higher growth, but under multiple equilibria, this is not …

inflation in order to stabilize the expectations of households, firms and innovators. Endogenous growth provides a self … debt-stabilizing inflation when current fiscal deficits are not backed by future fiscal surpluses. Because growth creates … unique stable equilibrium, provided that the policy permits r−g to fall with inflation. …

liquidity shocks are present due to interlocation interactions is adopted to have financial intermediaries arise endogenously …. We show that the relation between growth and inflation, as well as the existence and uniqueness of the balanced growth …

. Since inflation in our model is driven by distribution conflict, the "normal rate" of utilisation is associated with … consistent claims of firms and employees. Taking into account real debt effects of changes in inflation and distribution effects … Inflation in unserem Modell durch Verteilungskonflikte verursacht wird, ist der normale Auslastungsgrad durch miteinander …

monetary policy sets inflation above target whenever the subsidies fall short of the externalities. In the recovery from a … spell at the ZLB, the optimal discretionary policy sets inflation temporarily above target, helping mitigate the long …-run damage. Following a cost-push shock that creates inflationary pressure, the central bank tolerates a larger rise in inflation …

. But a seeming puzzle arises of opposite Tobin-like inflation effects because theory indicates a negative Tobin effect when …Output growth, investment and the real interest rate are all found empirically to be negatively affected by inflation … investment falls and a positive Tobin effect when the real interest rate rises. We define inflation's Tobin effect more …