Money, Human Capital, and Growth
Our purpose is to examine the effect of monetary expansion on capital accumulation and economic growth in an overlapping generations model with the growth engine of human capital accumulation. It is shown that, under the money-in-the-utility-function approach, money growth stimulates human capital accumulation of individuals, through asset demand shifts from money to capital and arbitrage movements from physical to human capital. So it also boosts balanced-equilibrium growth of the economy. Thus, the positive growth effect of monetary expansion is immune to changes from physical to human capital as the growth engine.
To our knowledge, this item is not available for
download. To find whether it is available, there are three
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
Volume (Year): 58 (2001)
Issue (Month): 3 (July)
|Contact details of provider:|| Web page: https://www.mohr.de/fa|
|Order Information:|| Postal: Mohr Siebeck GmbH & Co. KG, P.O.Box 2040, 72010 Tübingen, Germany|
When requesting a correction, please mention this item's handle: RePEc:mhr:finarc:urn:sici:0015-2218(200207)58:3_244:mhcag_2.0.tx_2-5. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Thomas Wolpert)
If references are entirely missing, you can add them using this form.