This paper examines the effect of inflation on effort and productivity in a representative agent model. We allow individual effort to be a continuous choice variable, which affects utility negatively and output positively. Our general model shows that the effect of inflation on effort, and hence...

This paper investigates whether monetary and fiscal policies, such as lump-sum taxes and monetization of pubic deficit, have environmental impacts. We address this question extending the neoclassical monetary growth model. We include a state equation for natural resources, and consider natural...

The purpose of this paper is to contribute a new model of the Gold Standard, focusing on the interaction between resource scarcity and demographics. In a dynamic micro-founded model we find that: i) prices and equilibrium gold holdings increase with population (a scale effect), but decrease with...