Showing 1 - 10 of 1,006
We introduce endogenous growth in a standard NK model with staggered prices and wages. We find that the source of … growth. …
Persistent link: https://www.econbiz.de/10010572164
In Kaleckian models of distribution and growth the equilibrium rate of capacity utilisation may persistently diverge …-run endogeneity. Generally, we show that in a Kaleckian monetary distribution and growth model, which takes the major features of a …
Persistent link: https://www.econbiz.de/10003744529
We introduce endogenous growth in an otherwise standard NK model with staggered prices and wages. Some results follow …: (i) monetary volatility negatively affects long-run growth; (ii) the relation between nominal volatility and growth … increases the negative effect of nominal volatility on mean growth. …
Persistent link: https://www.econbiz.de/10010343890
We study optimal monetary policy in a New Keynesian (NK) model with endogenous growth and knowledge spillovers external …
Persistent link: https://www.econbiz.de/10010875186
It is not uncommon for the Friedman rule to be optimal in neoclassical models with money. Notably, previous studies … also find that financial intermediation is not welfare improving when money is costless to hold. This paper departs from …
Persistent link: https://www.econbiz.de/10010580463
neoclassical growth model where money is required for investment and consumption purposes. In contrast to standard cash …
Persistent link: https://www.econbiz.de/10010580493
We consider a Diamond-type model of endogenous growth in which there are three assets: outside money, government bonds … foresight dynamics and under adaptive expectations. Tight monetary policy is harmful for growth in the stable steady state … increases the bond return, reduces the equity premium and thereby capital investment and growth. …
Persistent link: https://www.econbiz.de/10005247724
develop a two-sector monetary growth model in which a group of agents is exposed to liquidity shocks and money is essential …
Persistent link: https://www.econbiz.de/10010573224
Persistent link: https://www.econbiz.de/10001583847
Empirical Analysis, indicating a negative tradeoff between long-run growth and economic stability appear sensitive with … goods market. Monopolistic competition has been used in three contexts in modern economics: trade, growth and New …, thereby inducing faster innovation driven endogenous growth in the long run. Whilst the effect of fiscal policy on growth and …
Persistent link: https://www.econbiz.de/10014109375