This paper presents a stochastic monetary growth model with nominal rigidities and active monetary policy in which … ambiguity on the relationship between secular growth and cyclical volatility …

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 …

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 …

spirit-of-capitalism models of growth. Namely, higher inflation leads to higher capital stock in the long run, and inflation … increases the endogenous-growth rate of the economy. …

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 …

was its enthusiastic endorsement by John Maynard Keynes, in his Treatise of Money, published the following year, in 1930 …

promoting agent to boost up technological change are studied. Through a model of endogenous growth, the growth rates of all …

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 …