cointegrated with the growth rate of real GDP. There is an absence of any contemporaneous homogeneity between growth rate of money … current inflation and growth rate of money 18 months earlier. The error correction regression reveals that both M1 and M2 … permanent income and inflation rates predicated on the assumption that the velocity turn over of money is stable over time. Both …

We hope to model financial fragility and money in a way that captures much of what is crucial in Hyman Minsky …

We hope to model financial fragility and money in a way that captures much of what is crucial in Hyman Minsky …

This paper advances a model which can account for these five prominent facts of monetary economics. (i) Money is held … in non trivial amounts even though it is a dominated asset. (ii) High rates of inflation lead to low rates of growth …). The model is designed to capture three features of reality, which form the basis for modeling money as a dominated asset …

the equilibrium growth effect of money/inflation within a standard one-sector AK model of endogenous growth with wealth … between money and output growth depends crucially on (i) the liquidity-constrained ratio of consumption to investment, and (ii …) how the shadow price of physical capital responds to a change in the monetary growth rate. This money-growth correlation …

In this study, we develop a search-and-matching monetary growth model to analyze the effects of inflation on economic … growth and social welfare by introducing endogenous economic growth via capital externality into a two-sector search …-and-matching model. We find that the channel through which inflation affects economic growth in the search-and-matching model is …

. Quantitative goals take three forms: exchange rates, money growth rates, and inflation targets. We analyze the effects on inflation …