In most monetary models of economic growth, higher long-run inflation is associated with a decline in the growth rate …. We consider three types of endogenous growth models: the AK-model, the Lucas (1990) supply-side model, and the two … lower growth and employment in all three models, while, in the cash-credit good economy of Dotsey and Ireland (1996), the …

I use the monetary version of the neoclassical growth model developed by Aruoba, Waller and Wright (2008) to study the … properties of the model when there is exogenous growth. I first consider the planner's problem, then the equilibrium outcome in a … price taking. I obtain closed form solutions for the balanced growth path of all variables in all cases. I then derive …

demonstrated that money is a measure of generalized power in exchange and a certification of generalized power in subsequent …