Chen, Been-Lon; Hsu, Mei; Lu, Chia-Hui - Institute of Economics, Academia Sinica - 2007
This paper studies the role of an endogenous time preference on the relationship between inflation and growth in the long run in both the money-in-utility-function (MIUF) and transaction costs (TC) models. We establish a qualitative equivalence between the two models in a setup without a...