Real interest rates and endogenous growth in a monetary economy

Milton H. Marquis, Kevin L. Reffett

Research output: Contribution to journalArticle

23 Scopus citations

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 - Oct 1991
Externally publishedYes

ASJC Scopus subject areas

  • Finance
  • Economics and Econometrics

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