Recent empirical studies on the inflation-growth-relationship underline that inflation has negative growth effects already under relatively modest rates. Most contributions to monetary growth theory, however, have difficulties in explaining such a pattern. It is shown in this paper that this...

Jüngere empirische Studien über den Zusammenhang zwischen Inflation und Wachstum zeigen, dass Inflation auch schon bei relativ geringen Raten negative Wachstumseffekte besitzen kann. In der monetären Wachstumstheorie fehlt es jedoch an Erklärungen dafür. Wie im vorliegenden Beitrag gezeigt...

In this paper, we seek to re-establish the link between the constant elasticity of substitution (CES) production function and neoclassical Solow growth theory. We do so in three dimensions. First, we review the increasing importance of the CES technology in modern dynamic macroeconomics, in...