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 …

growth in Greece and discusses the role of conditionality. Finally, the important role of mid-left parties is highlighted. …

are also explained and, further, linked in magnitude to the growth effects through the interest elasticity of money demand …The paper shows that contrary to conventional wisdom an endogenous growth economy with human capital and alternative … payment mechanisms can robustly explain major facets of the long run inflation experience. A negative inflation-growth …

The paper presents and tests a theory of the demand for money that is derived from a general equilibrium, endogenous … growth economy, which in e§ect combines a special case of the shopping time exchange economy with the cash … agents to substitute away from money towards exchange credit. The implied interest elasticity of money demand rises with the …

We study monetary policy in a New Keynesian (NK) model with endogenous growth and knowledge spillovers external to each … firm. We find the following results: (i) technology and government spending shocks have different effects on growth; (ii …) disinflationary monetary policies entail positive effects on growth; (iii) the optimal long-run inflation rate is zero; (iv) the …

stable" equilibrium nominal interest rate with matching definitions for inflation and monetary growth. We demonstrate that …

money. A higher monetary growth rate increases fertility, since it reduces its opportunity cost, and hence diminishes …This paper analyses the issue of money superneutrality through an intertemporal optimising model of capital … accumulation and inflation with endogenous fertility, i.e. endogenous population growth. The model establishes an inverse relation …

We provide a Keynesian growth theory in which pessimistic expectations can lead to very persistent, or even permanent …, slumps characterized by unemployment and weak growth. We refer to these episodes as stagnation traps, because they consist in … the joint occurrence of a liquidity and a growth trap. In a stagnation trap, the central bank is unable to restore full …

and the inflation rate. Moreover, this paper presents examination of the optimal growth rate of the money supply. Because … of the pension policy, the optimal growth rate of money stock changes. This result is intuitive because a pay …This paper presents examination of how a pension policy affects income growth and the inflation rate in a utility model …

the general n-dimensional case. For deterministic dynamic economies, as in most models of economic growth, of …