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Download fileInflation, variability, and the evolution of human capital in a model with transactions costs
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posted on 2006-10-10, 08:28 authored by Dimitrios VarvarigosIn 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.
History
School
- Business and Economics
Department
- Economics
Pages
202637 bytesPublication date
2006Notes
Economics Research Paper 06-16Language
- en