• français
    • English
  • English 
    • français
    • English
  • Login
JavaScript is disabled for your browser. Some features of this site may not work without it.
BIRD Home

Browse

This CollectionBy Issue DateAuthorsTitlesSubjectsJournals BIRDResearch centres & CollectionsBy Issue DateAuthorsTitlesSubjectsJournals

My Account

Login

Statistics

View Usage Statistics

Liquidity, innovation and growth

Thumbnail
View/Open
iewwp441.pdf (256.7Kb)
Date
2012
Dewey
Croissance et développement économiques
Sujet
Inflation; Growth; Search; Innovation; Credit
JEL code
O.O4.O42; E.E5.E50
Journal issue
Journal of Monetary Economics
Volume
59
Number
8
Publication date
2012
Article pages
721-737
Publisher
Elsevier
DOI
http://dx.doi.org/10.1016/j.jmoneco.2012.10.005
URI
https://basepub.dauphine.fr/handle/123456789/16183
Collections
  • LEDa : Publications
Metadata
Show full item record
Author
Berentsen, Aleksander
153097 Department of Business and Economics - University of Basel
Rojas Breu, Mariana
163511 Laboratoire d'Economie de Dauphine [LEDa]
Shi, Shouyong
status unknown
Type
Article accepté pour publication ou publié
Abstract (EN)
Many countries simultaneously suffer from high inflation, low growth and poorly developed financial sectors. In this paper, we integrate a microfounded model of money and finance into a model of endogenous growth to examine the effects of inflation on welfare, growth and the size of the financial sector. A novel feature is that the innovation sector is decentralized. Financial intermediaries arise endogenously to provide liquidity to this sector. Consistent with the data but in contrast to previous work, reducing inflation generates large growth gains. These large gains cannot be easily reproduced by imposing a cash-in-advance constraint in the innovation sector.

  • Accueil Bibliothèque
  • Site de l'Université Paris-Dauphine
  • Contact
SCD Paris Dauphine - Place du Maréchal de Lattre de Tassigny 75775 Paris Cedex 16

 Content on this site is licensed under a Creative Commons 2.0 France (CC BY-NC-ND 2.0) license.