Similar Search Results

Search, Inflation, and Capital Accumulation

Shi, Shouyong - Economics Department, Queen's University - 1998

This paper constructs a model to integrate the search monetary theory into a neoclassical growth model. With divisible goods and money, the model is used to examine the relationship between money growth and capital accumulation. The framework uncovers a distinct extensive effect that an increase...

Persistent link: https://www.econbiz.de/10005688577

Price Stability as Optimal Policy: Costly Nominal Adjustment in General Equilibrium.

Gillman, M. - Department of Economics, Faculty of Business and Economics - 1996

inflation. …

Persistent link: https://www.econbiz.de/10005574870

On the Fisher Effect.

Koustas, Z., Serletis, A. - Department of Economics, University of Calgary - 1998

United Kingdom, and the United States to examine the Fisherian link between inflation and the short-term nominal interest …

Persistent link: https://www.econbiz.de/10005641449

Is Inflation Always and Everywhere a Monetary Phenomenon?

De Grauwe, Paul; Polan, Magdalena - C.E.P.R. Discussion Papers - 2001

money and inflation. When analysing the full sample of countries we find a strong positive relation between the long …-run inflation and money growth rate. The relation is not, however, proportional. The strong link between inflation and money growth … is almost wholly due to the presence of high (or hyper-) inflation countries in the sample. The relationship between …

Persistent link: https://www.econbiz.de/10005656210

Increasing Returns to Scale and the Long-Run Phillips Curve

Vaona, Andrea; Snower, Dennis - Institut für Weltwirtschaft (IfW) - 2006

A growing body of empirical evidence shows that there exists a long-run positive tradeoff between inflation and real … between inflation and output. …

Persistent link: https://www.econbiz.de/10005700624

Milton Friedman's Contributions to Macroeconomics and Their Influence

Laidler, David - University of Western Ontario, Economic Policy Research … - 2012

Milton Friedman's contributions to and influence on macroeconomics are discussed, beginning with his work on the consumption function and the demand for money, not to mention monetary history, which helped to undermine the post World War 2 "Keynesian" consensus in the area. His inter-related...

Persistent link: https://www.econbiz.de/10010681093

News shocks and inflation

Jinnai, Ryo - In: Economics Letters 119 (2013) 2, pp. 176-179

This paper shows that the empirically documented disinflationary nature of news shocks is consistent with the implications of a sensibly modified version of a New Keynesian model, even if capital is introduced to the model. The modification proposed in the current paper, however, is different...

Persistent link: https://www.econbiz.de/10010664119

The n-dimensional Bailey–Divisia measure as a general-equilibrium measure of the welfare costs of inflation

Cysne, Rubens Penha - In: Economics Letters 113 (2011) 2, pp. 99-102

may emerge as an exact general-equilibrium measure of the welfare costs of inflation, provided that preferences are …

Persistent link: https://www.econbiz.de/10010576436

The price-price Phillips curve in small open economies and monetary unions

Vaona, Andrea - Dipartimento di Scienze Economiche, Facoltà di Economia - 2011

plausible numerical simulations, economic openness reduces the sacrifice ratio. Regarding a monetary union, aggregate inflation …

Persistent link: https://www.econbiz.de/10008918535

Inflation and Welfare in Long-Run Equilibrium with Firm Dynamics

Janiak, Alexandre; Monteiro, Paulo Santos - Institute for the Study of Labor (IZA) - 2009

We analyze the welfare cost of inflation in a model with cash-in-advance constraints and an endogenous distribution of … establishments' productivities. Inflation distorts aggregate productivity through firm entry dynamics. The model is calibrated to the … United States economy and the long-run equilibrium properties are compared at low and high inflation. We find that, when the …

Persistent link: https://www.econbiz.de/10008574592