Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
5099829 | Journal of Economic Dynamics and Control | 2008 | 28 Pages |
Abstract
This paper analyzes the relationship between the development of new technologies and the usage of money and intermediation services. Accumulation of new knowledge leads to the development of better technologies, cheaper intermediation services and higher money velocity. We may find positive or negative level effects of inflation depending on the initial conditions of the economy. Money is neutral in the long run. Welfare effects of inflation are huge.
Related Topics
Physical Sciences and Engineering
Mathematics
Control and Optimization
Authors
Jana Hromcová,