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

intermediaries to examine the effects of alternative government financing schemes on growth, inflation, and welfare. We find that in … tax base by means of an increase in the reserve requirement retards growth and has an ambiguous effect on inflation. An … increase in income tax?financed government spending also suppresses growth and raises inflation although not to the extent that …

inflation-growth effect. We compare this economy to more standard models with respect to the effect of the money / credit … exchange technology. We find a markedly negative effect of inflation on economic growth using very standard calibration …. Analytically the model employs a general equilibrium version of the Tobin-type substitution in the face of higher inflation that …

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. …