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dc.contributor.authorBerentsen, Aleksander
dc.contributor.authorRojas Breu, Mariana
dc.contributor.authorShi, Shouyong
dc.date.accessioned2017-01-17T15:38:52Z
dc.date.available2017-01-17T15:38:52Z
dc.date.issued2012
dc.identifier.issn0304-3932
dc.identifier.urihttps://basepub.dauphine.fr/handle/123456789/16183
dc.language.isoenen
dc.subjectInflationen
dc.subjectGrowthen
dc.subjectSearchen
dc.subjectInnovationen
dc.subjectCrediten
dc.subject.ddc338.9en
dc.subject.classificationjelO.O4.O42en
dc.subject.classificationjelE.E5.E50en
dc.titleLiquidity, innovation and growthen
dc.typeArticle accepté pour publication ou publié
dc.description.abstractenMany 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.en
dc.relation.isversionofjnlnameJournal of Monetary Economics
dc.relation.isversionofjnlvol59en
dc.relation.isversionofjnlissue8en
dc.relation.isversionofjnldate2012
dc.relation.isversionofjnlpages721-737en
dc.relation.isversionofdoi10.1016/j.jmoneco.2012.10.005en
dc.relation.isversionofjnlpublisherElsevieren
dc.subject.ddclabelCroissance et développement économiquesen
dc.relation.forthcomingnonen
dc.relation.forthcomingprintnonen
dc.description.ssrncandidatenonen
dc.description.halcandidateouien
dc.description.readershiprechercheen
dc.description.audienceInternationalen
dc.relation.Isversionofjnlpeerreviewedouien
dc.relation.Isversionofjnlpeerreviewedouien
dc.date.updated2016-12-05T14:43:59Z
hal.person.labIds153097
hal.person.labIds163511
hal.person.labIds93589
hal.identifierhal-01438414*


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