Arbeitspapier
Effects of monetary policy in a model with cash-in-advance constraints on R&D and capital accumulation
To examine the effect of monetary policy on economic growth, we formulate an endogenous growth model with cash-in-advance constraints on R&D and capital accumulation as endogenous growth engines. Within this framework, we show that the relationship between economic growth and the nominal interest rate can be an inverted-U shape. Moreover, we demonstrate that the welfare-maximizing level of the nominal interest rate is larger than the growth rate-maximizing level of the nominal interest rate.
- Sprache
-
Englisch
- Erschienen in
-
Series: ISER Discussion Paper ; No. 1076
- Klassifikation
-
Wirtschaft
Monetary Policy
Innovation and Invention: Processes and Incentives
Economic Growth and Aggregate Productivity: General
- Thema
-
Capital accumulation
CIA constraint
Endogenous growth
Monetary policy
R&D
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Maeda, Daiki
Saito, Yuki
- Ereignis
-
Veröffentlichung
- (wer)
-
Osaka University, Institute of Social and Economic Research (ISER)
- (wo)
-
Osaka
- (wann)
-
2020
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:45 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Maeda, Daiki
- Saito, Yuki
- Osaka University, Institute of Social and Economic Research (ISER)
Entstanden
- 2020
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