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Inflation, financial development and human capital-based endogenous growth: An eplanation of ten empirical findings

Gillman, Max and Kejak, Michal 2007. Inflation, financial development and human capital-based endogenous growth: An eplanation of ten empirical findings. [Working Paper]. CDMA Conference Paper Series, St Andrews: Department of Economics, Centre for Dynamic Macroeconomic Analysis. Available at: http://econpapers.repec.org/paper/sancdmacp/0703.h...

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Abstract

The paper presents a general equilibrium that can explain ten related sets of empirical results, providing a unified approach to understand usually disparate effects typically treated separately. These are grouped into two sets, one on financial development, investment and inflation, and one on inflations effect on other economy-wide variables such as growth, real interest rates, employment, and money demand. The unified approach also contributes a systematic explanation of certain nonlinearities that are found across these results, as based on the production function for financial intermediary services and the resultant money demand function.

Item Type: Monograph (Working Paper)
Date Type: Publication
Status: Published
Schools: Business (Including Economics)
Subjects: H Social Sciences > HB Economic Theory
Uncontrolled Keywords: Inflation; financial development; growth; exchange credit production
Publisher: Department of Economics, Centre for Dynamic Macroeconomic Analysis
Last Modified: 19 Mar 2016 23:15
URI: http://orca.cf.ac.uk/id/eprint/44453

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