inflation on welfare, growth and the size of the financial sector. A novel feature is that the innovation sector is …Many countries simultaneously suffer from high inflation, low growth and poorly developed financial sectors. In this … decentralized. Financial intermediaries arise endogenously to provide liquidity to this sector. Consistent with the data but in …

inflation on welfare, growth and the size of the financial sector. A novel feature is that the innovation sector is …Many countries simultaneously suffer from high inflation, low growth and poorly developed financial sectors. In this … decentralized. Financial intermediaries arise endogenously to provide liquidity to this sector. Consistent with the data but in …

shows a strong negative effect of inflation on growth for the OECD countries, one that decreases marginally as the inflation … rate rises. The APEC results show some evidence of the inflation rate effect, with a significant negative impact at higher … inflation ranges. Segmenting the sample by country, according to average inflation rates, results in a stronger effect of …

inflation-growth effect. We compare this economy to more standard models with respect to the effect of the money / credit … exchange technology. We find a markedly negative effect of inflation on economic growth using very standard calibration …. Analytically the model employs a general equilibrium version of the Tobin-type substitution in the face of higher inflation that …

intermediaries to examine the effects of alternative government financing schemes on growth, inflation, and welfare. We find that in … tax base by means of an increase in the reserve requirement retards growth and has an ambiguous effect on inflation. An … increase in income tax?financed government spending also suppresses growth and raises inflation although not to the extent that …

inflation in order to stabilize the expectations of households, firms and innovators. Endogenous growth provides a self … debt-stabilizing inflation when current fiscal deficits are not backed by future fiscal surpluses. Because growth creates … unique stable equilibrium, provided that the policy permits r−g to fall with inflation. …