In the present paper we explicitly introduce interest payments and debt into a Kaleckian distribution and growth model … growth with respect to the specification of the investment function. …

The long-run relation between growth and inflation has not yet been studied in the context of nominal price and wage … integrate staggered price- and wage-setting into an endogenous growth framework. In this setting, growth and inflation are … 5 percent, the range over which the economy's steady-state growth rate varies spans 50 basis points, implying up to a 15 …

An endogenous growth model with a financial sector is formulated, and empirical analyses are conducted. The model … address this point empirically, we fit data for 90 countries from 1960 2000 to a standard growth equation with a proxy for … financial activity. Firstly, it is shown that a growth enhancing outcome of financial activity is contingent on a sound …

To clarify the causal links between financial activity and economic growth, three theoretical models are analyzed and a …-run levels but may reduce growth rates in the short run. Empirically, based on data for 93 countries during the 1980 90 period …, it is shown that during the 1980s finance was predominantly a supply-leading determinant of economic growth. Our analysis …

An endogenous growth model on finance and growth is formulated, and empirical analyses are conducted. The model … address this point empirically, we fit data for 90 countries from 1960-2000 to a standard growth equation with a proxy for … financial activity. Firstly, it is shown that a growth enhancing outcome of financial activity is contingent on a sound …

The long-run relation between growth and inflation has not yet been studied in the context of nominal price and wage … integrate staggered price- and wage-setting into an endogenous growth framework. In this setting, growth and inflation are … 5 percent, the range over which the economy's steady-state growth rate varies spans 50 basis points, implying up to a 15 …

the private sector, a higher number of ATMs, bank accounts, and bank branches increases economic growth and reduces income … the income distribution benefit from financial development and can improve their incomes and economic growth …