| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP532 |
| DP532 Money and Growth Revisited | |
| Frederick van der Ploeg; George Alogoskoufis | |
| 发表日期 | 1991-03-01 |
| 出版年 | 1991 |
| 语种 | 英语 |
| 摘要 | The Ramsey-Romer model of endogenous growth is extended to allow for holdings of real money balances and government debt as well as capital and for non-interconnected generations of households. Tax-financed increases in government consumption and debt depress growth prospects and boost inflation, as long as a positive birth rate ensures that future taxes are shouldered by future, yet unborn, generations. Debt-financed increases in government consumption depress growth and boost inflation even more. Money-financed increases in government consumption depress growth less but increase inflation by more. Giving subsidies through an increase in monetary growth is non-neutral, since this increases real growth and thus inflation increases by a lesser amount than monetary growth. Bond-financed increases in monetary growth lead to a larger increase in real growth and a smaller increase in inflation. If there are costs of adjustment for investment, cuts in monetary growth and increases in government debt and government consumption induce an increase in the real interest rate. |
| 主题 | International Macroeconomics |
| 关键词 | Endogenous growth Overlapping generations Population growth Ricardian equivalence |
| URL | https://cepr.org/publications/dp532 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/529680 |
| 推荐引用方式 GB/T 7714 | Frederick van der Ploeg,George Alogoskoufis. DP532 Money and Growth Revisited. 1991. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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