Inflationary financing of public investment and economic growth

Detalhes bibliográficos
Autor(a) principal: Ferreira, Pedro Cavalcanti
Data de Publicação: 1998
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Institucional do FGV (FGV Repositório Digital)
Texto Completo: http://hdl.handle.net/10438/803
Resumo: A theoretical model is constructed in order to explain particular historical experiences in which inflation acceleration apparently helped to spur a period of economic growth. Government financed expenditures affect positively the productivity growth in this model so that the distortionary effect of inflation tax is compensated by the productive effect of public expenditures. We show that for some interval of money creation rates there is an equilibrium where money is valued and where steady state physical capital grows with inflation. It is also shown that zero inflation and growth maximization are never the optimal policies.
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spelling Ferreira, Pedro CavalcantiEscolas::EPGEFGV2008-05-13T15:35:05Z2010-09-23T18:58:36Z2008-05-13T15:35:05Z2010-09-23T18:58:36Z1998-04-010104-8910http://hdl.handle.net/10438/803A theoretical model is constructed in order to explain particular historical experiences in which inflation acceleration apparently helped to spur a period of economic growth. Government financed expenditures affect positively the productivity growth in this model so that the distortionary effect of inflation tax is compensated by the productive effect of public expenditures. We show that for some interval of money creation rates there is an equilibrium where money is valued and where steady state physical capital grows with inflation. It is also shown that zero inflation and growth maximization are never the optimal policies.engEscola de Pós-Graduação em Economia da FGVEnsaios Econômicos;322InflationGrowthPublic investmentsEconomiaEconomiaInflationary financing of public investment and economic growthinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articlereponame:Repositório Institucional do FGV (FGV Repositório Digital)instname:Fundação Getulio Vargas (FGV)instacron:FGVinfo:eu-repo/semantics/openAccessTHUMBNAIL1183.pdf.jpg1183.pdf.jpgGenerated Thumbnailimage/jpeg4211https://repositorio.fgv.br/bitstreams/a26d8721-3080-4bd7-881b-efccda5c530c/downloade96faf3b2978711be88406726c121435MD58ORIGINAL1183.pdfapplication/pdf221943https://repositorio.fgv.br/bitstreams/b6fff540-90ea-46e1-9d11-d76df3d4a61c/download5c39ad113df32b8a9efe35d3917789f7MD52TEXT1183.pdf.txt1183.pdf.txtExtracted texttext/plain62216https://repositorio.fgv.br/bitstreams/db0dbe19-5c94-4f9d-bf6b-23677c60a72d/downloadd0e6254fce9f2709c82d7a67b1a8d419MD5710438/8032023-11-09 00:28:03.034open.accessoai:repositorio.fgv.br:10438/803https://repositorio.fgv.brRepositório InstitucionalPRIhttp://bibliotecadigital.fgv.br/dspace-oai/requestopendoar:39742023-11-09T00:28:03Repositório Institucional do FGV (FGV Repositório Digital) - Fundação Getulio Vargas (FGV)false
dc.title.eng.fl_str_mv Inflationary financing of public investment and economic growth
title Inflationary financing of public investment and economic growth
spellingShingle Inflationary financing of public investment and economic growth
Ferreira, Pedro Cavalcanti
Inflation
Growth
Public investments
Economia
Economia
title_short Inflationary financing of public investment and economic growth
title_full Inflationary financing of public investment and economic growth
title_fullStr Inflationary financing of public investment and economic growth
title_full_unstemmed Inflationary financing of public investment and economic growth
title_sort Inflationary financing of public investment and economic growth
author Ferreira, Pedro Cavalcanti
author_facet Ferreira, Pedro Cavalcanti
author_role author
dc.contributor.unidadefgv.por.fl_str_mv Escolas::EPGE
dc.contributor.affiliation.none.fl_str_mv FGV
dc.contributor.author.fl_str_mv Ferreira, Pedro Cavalcanti
dc.subject.eng.fl_str_mv Inflation
Growth
Public investments
topic Inflation
Growth
Public investments
Economia
Economia
dc.subject.area.por.fl_str_mv Economia
dc.subject.bibliodata.por.fl_str_mv Economia
description A theoretical model is constructed in order to explain particular historical experiences in which inflation acceleration apparently helped to spur a period of economic growth. Government financed expenditures affect positively the productivity growth in this model so that the distortionary effect of inflation tax is compensated by the productive effect of public expenditures. We show that for some interval of money creation rates there is an equilibrium where money is valued and where steady state physical capital grows with inflation. It is also shown that zero inflation and growth maximization are never the optimal policies.
publishDate 1998
dc.date.issued.fl_str_mv 1998-04-01
dc.date.accessioned.fl_str_mv 2008-05-13T15:35:05Z
2010-09-23T18:58:36Z
dc.date.available.fl_str_mv 2008-05-13T15:35:05Z
2010-09-23T18:58:36Z
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dc.identifier.uri.fl_str_mv http://hdl.handle.net/10438/803
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identifier_str_mv 0104-8910
url http://hdl.handle.net/10438/803
dc.language.iso.fl_str_mv eng
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dc.relation.ispartofseries.por.fl_str_mv Ensaios Econômicos;322
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
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dc.publisher.none.fl_str_mv Escola de Pós-Graduação em Economia da FGV
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