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Inflation, Variability, and the Evolution of Human Capital in a Model with Transactions Costs
Varvarigos, Dimitrios - School of Business and Economics, Loughborough University - 2006
In a monetary growth model, I show that average inflation inhibits growth while inflation volatility enhances it. The … effect of nominal volatility on human capital accumulation depends on the response of money demand and the corresponding …
Persistent link: https://www.econbiz.de/10005423006
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Monetary Stabilisation Policy and Long-run Growth
Ragchaasuren, Galindev - Money Macro and Finance Research Group - 2007
ambiguity on the relationship between secular growth and cyclical volatility …This paper presents a stochastic monetary growth model with nominal rigidities and active monetary policy in which …
Persistent link: https://www.econbiz.de/10004975710
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On the causal link between money and output growth: Evidence from Turkey
KOCAASLAN, Özge KANDEMİR - In: Iktisat Isletme ve Finans 29 (2014) 339, pp. 09-26
In this paper we empirically investigate the causal link between money and economic growth employing a Markov switching … in the causal relation between money and economic growth over the sample period under investigation. Our results show … interbank money market rate data which cover the period between 1987:Q4 and 2012:Q1. We find that there are significant changes …
Persistent link: https://www.econbiz.de/10010894851
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The aftermath of debt surges
Kose, M. Ayhan; Ohnsorge, Franziska; Reinhart, Carmen M.; … - 2021
options that have, in the past, helped lower debt burdens. Specifically, it examines orthodox options (enhancing growth …
Persistent link: https://www.econbiz.de/10013373848
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The aftermath of debt surges
Kose, M. Ayhan; Ohnsorge, Franziska; Reinhart, Carmen M.; … - 2021
options that have, in the past, helped lower debt burdens. Specifically, it examines orthodox options (enhancing growth …
Persistent link: https://www.econbiz.de/10012655299
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Growth and economic crises in Turkey: leaving behind a turbulent past?
Macovei, Mihai - Directorate-General Economic and Financial Affairs, … - 2009
has become to domestic and international economic volatility, one can better assess the sustainability of the accelerated …
Persistent link: https://www.econbiz.de/10008516233
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Making the case for a low intertemporal elasticity of substitution
Braun, R. Anton; Nakajima, Tomoyuki - 2012
We provide two ways to reconcile small values of the intertemporal elasticity of substitution (IES) that range between 0.35 and 0.5 with empirical evidence that the IES is large. We do this reconciliation using a model in which all agents have identical preferences and the same access to asset...
Persistent link: https://www.econbiz.de/10010292314
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An empirical evaluation of three post Keynesian models
Skott, Peter - 2010
these models for the steady growth path and the cyclical properties of the economy, and evaluate the consistency of the …
Persistent link: https://www.econbiz.de/10010287839
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Cyclical patterns of employment, utilization and profitability
Zipperer, Ben; Skott, Peter - 2010
The interaction between income distribution, accumulation, employment and the utilization of capital is central to macroeconomic models in the 'heterodox' tradition. This paper examines the stylized pattern of these variables using US data for the period after 1948. We look at the trends and...
Persistent link: https://www.econbiz.de/10010287851
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Capital accumulation and employment cycles in a model of creative destruction
Palokangas, Tapio K. - 2003
A Schumpeterian growth model is constructed for an economy with wage bargaining. It is shown that the economy is … growth rate of the economy decreases. The growth cycle can be socially optimal. An elasticity rule is given for when the …
Persistent link: https://www.econbiz.de/10011514161