Inflation, variability, and the evolution of human capital in a model with transactions costs

被引：10
|
作者：
Varvarigos, Dimitrios [1 ]
机构：
[1] Loughborough Univ Technol, Dept Econ, Loughborough LE11 3TU, Leics, England
来源：
ECONOMICS LETTERS | 2008年 / 98卷 / 03期
关键词：
money; growth; volatility;
D O I：
10.1016/j.econlet.2007.05.011
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
In a monetary growth model, I show that average inflation inhibits growth while inflation volatility enhances it. The effect of nominal volatility on human capital accumulation depends on the response of money demand and the corresponding extent of transactions costs rather than from a direct, precautionary motive. (c) 2007 Elsevier B.V. All rights reserved.
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页码：320 / 326
页数：7
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