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This paper investigates the role of monetary policy in economic growth. Using an infinitely lived overlapping-generations model with a simple convex technology that can yield endogenous growth, the authors show that money supply behavior of the government may have significant effects on the...
Persistent link: https://www.econbiz.de/10005195194
This paper investigates the relationship between inflation (the rate of monetary expansion) and economic growth in a monetary version of Benhabib and Farmer's ("Journal of Economic Theory", <b>63</b>, 19-41, 1994) one-sector endogenous growth model, in which money reduces transaction costs or shopping...
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