Given the current debate on the worldwide decline of inflation (disinflation) this paper examns the influence of money on economic growth. The focus is on neoclassical growth modells (Solow-Swan based). In particular the role of money in the genuine article of Tobin (1965) is evaluated, where the single purpose of money is serving as a medium of exchange and as a store of value. Furthermore money serves as a mean to overcome deflationary deadlocks. The question whether money fosters economic growth can not be solved due to reduced monetary modelling within the Tobin model.
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Paper provided by Friedrich-Schiller-Universität Jena, Wirtschaftswissenschaftliche Fakultïät in its series Working Paper Series B with number
1998-05.
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