Real interest rates and endogenous growth in a monetary economy

Milton H. Marquis, Kevin Reffett

Research output: Contribution to journalArticle

23 Citations (Scopus)

Abstract

In endogenous growth models where the engine of growth is human capital acquired via formal education, inflation taxes may raise or lower real interest rates depending upon whether or not physical and/or human capital are liquidity constrained. Cases are examined.

Original languageEnglish (US)
Pages (from-to)105-109
Number of pages5
JournalEconomics Letters
Volume37
Issue number2
DOIs
StatePublished - 1991
Externally publishedYes

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Human capital
Endogenous growth
Liquidity
Endogenous growth model
Inflation tax
Education

ASJC Scopus subject areas

  • Economics and Econometrics
  • Finance

Cite this

Real interest rates and endogenous growth in a monetary economy. / Marquis, Milton H.; Reffett, Kevin.

In: Economics Letters, Vol. 37, No. 2, 1991, p. 105-109.

Research output: Contribution to journalArticle

Marquis, Milton H. ; Reffett, Kevin. / Real interest rates and endogenous growth in a monetary economy. In: Economics Letters. 1991 ; Vol. 37, No. 2. pp. 105-109.
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