کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
5058144 1476615 2016 4 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Money and growth through innovation cycles with leisure
ترجمه فارسی عنوان
پول و رشد از طریق چرخه نوآوری با اوقات فراغت
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
چکیده انگلیسی


- Study monetary policy in a cash-in-advance model of growth through cycles with leisure.
- Higher money growth for lower income taxes increases labor, output, and growth immediately.
- It increases investment and average growth in output and variety on the period-two-cycle path.
- It amplifies fluctuations in investment, innovation, and output on the period-two-cycle path.
- Once high enough, it induces convergence on balanced growth with continuing innovations.

We study monetary policy with growth through innovation cycles and leisure. If consumption is cash constrained, increasing money growth for lower income taxes increases labor, output, investment, innovation, and growth and amplifies fluctuations on a period-two-cycle path. It induces convergence to the balanced-growth path at sufficiently high money growth rates. If investment for innovation and intermediate production is also cash constrained, the effects of money on labor, investment, innovation, and growth become negative at sufficiently high money growth rates.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Economics Letters - Volume 148, November 2016, Pages 23-26
نویسندگان
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