Fujisaki, Seiya; Mino, Kazuo - In: Economics Bulletin 30 (2010) 1, pp. 808-816
This paper examines the long-run impact of inflation tax in the context of a generalized Ak growth model in which the rate of capital depreciation is endogenously determined. We assume that the rate of capital depreciation positively depends on capital utilization rate and negatively depends on...