Financial Deepening, Inflation and Economic Growth
We develop a general equilibrium framework to analyze the relationship between the operation of the financial system, inflation and economic growth. We first investigate the dynamic interactions between financial development and growth by analyzing how financial innovations affect real growth, and, in turn, growth affects the financial system. We then study how inflation affects financial deepening and economic growth. Finally, we discuss policy implications and derive optimal fiscal and monetary policies.
|Date of creation:||2008|
|Contact details of provider:|| Postal: Society for Economic Dynamics Marina Azzimonti Department of Economics Stonybrook University 10 Nicolls Road Stonybrook NY 11790 USA|
Web page: http://www.EconomicDynamics.org/society.htm
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- Shouyong Shi, 2001.
"Liquidity, Bargaining, and Multiple Equilibria in a Search Monetary Model,"
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0211, Federal Reserve Bank of Cleveland.
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- Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
- Shouyong Shi, 1997.
"A Divisible Search Model of Fiat Money,"
Econometric Society, vol. 65(1), pages 75-102, January.
- Ireland, Peter N, 1994. "Money and Growth: An Alternative Approach," American Economic Review, American Economic Association, vol. 84(1), pages 47-65, March.
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