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determining economic growth in four Latin American countries which suffered hyperinflationary bursts in the 1980s and early 1990s … has had a detrimental effect to growth in the region. All in all, we highlight the fact that excessive inflation has …
Persistent link: https://www.econbiz.de/10010577080
This paper presents a small macroeconomic model describing the main mechanisms of the process of credit creation by the private banking system. The model is composed of a core unit--where the dynamics of income, credit, and aggregate demand are determined--and a set of sectoral accounts that...
Persistent link: https://www.econbiz.de/10010705520
institutions and growth for the period 2001-2009. …
Persistent link: https://www.econbiz.de/10010712315
This paper presents a stock-flow consistent growth model which is set in the Post-Keynesian tradition. A key feature of … constant rate of unemployment (at the "natural rate of growth"). The model incorporates a detailed description of the household …
Persistent link: https://www.econbiz.de/10010821641
This paper studies how liability dollarization conditions the effect of exchange rate flexibility on growth. It … in tradable and nontradables. With frictions in the reallocation between tradables and nontradables, a peg is more growth … on growth. …
Persistent link: https://www.econbiz.de/10008677737
We introduce endogenous growth in an otherwise standard NK model with staggered prices and wages. Some results follow …: (i) monetary volatility negatively affects long-run growth; (ii)the relation between nominal volatility and growth … increases the negative effect of nominal volatility on mean growth. …
Persistent link: https://www.econbiz.de/10008685157
We introduce endogenous growth in an otherwise standard NK model with staggered prices and wages. Some results follow …: (i) monetary volatility negatively affects long-run growth; (ii) the relation between nominal volatility and growth … increases the negative effect of nominal volatility on mean growth. …
Persistent link: https://www.econbiz.de/10008865975
In this paper we investigate the role of inflation rates in determining economic growth in fifteen sub-Saharan African … on panel time-series data and analysis, suggest that inflation has had a detrimental effect to growth in the region. All …
Persistent link: https://www.econbiz.de/10011095486
by low inflation, robust growth and low level of bureaucratic corruption due to better governance. In contrast, the … corruption, high inflation due partly to reliance on seigniorage to finance public spending, and lacklustre growth. Using annual …
Persistent link: https://www.econbiz.de/10011166989
Output growth, investment and the real interest rate are all found empirically to be negatively affected by inflation … occurrence of all three negative inflation effects, on growth, investment and real interest rates, in a model calibrated to … postwar US data. Here, investment along with consumption are exchanged for within a monetary endogenous growth economy with …
Persistent link: https://www.econbiz.de/10005509757