Further theoretical and empirical evidence on money to growth relation
AbstractThis paper proposes a theoretical growth model where seigniorage can be used to finance productive public spending, and show the existence of nonlinear effects between seigniorage and economic growth. Empirical evidence based on panel regression techniques provides some support for these nonlinear effects on a sample of OECD countries over the 1978-2005 period.
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Bibliographic InfoArticle provided by AccessEcon in its journal Economics Bulletin.
Volume (Year): 5 (2008)
Issue (Month): 21 ()
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Other versions of this item:
- Christophe Rault & Alexandru Minea & Patrick Villieu, 2008. "Further theoretical and empirical evidence on money to growth relation," Economics Bulletin, AccessEcon, vol. 28(13), pages A0.
- Alexandru Minea & Christophe Rault & Patrick Villieu, 2008. "Further Theoretical and Empirical Evidence on Money to Growth Relation," William Davidson Institute Working Papers Series, William Davidson Institute at the University of Michigan wp909, William Davidson Institute at the University of Michigan.
- E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
- E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook
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