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.
id FGV_36dde31c91dbc2e882ae76e8a330d733
oai_identifier_str oai:repositorio.fgv.br:10438/803
network_acronym_str FGV
network_name_str Repositório Institucional do FGV (FGV Repositório Digital)
repository_id_str 3974
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
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10438/803
dc.identifier.issn.none.fl_str_mv 0104-8910
identifier_str_mv 0104-8910
url http://hdl.handle.net/10438/803
dc.language.iso.fl_str_mv eng
language eng
dc.relation.ispartofseries.por.fl_str_mv Ensaios Econômicos;322
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.publisher.none.fl_str_mv Escola de Pós-Graduação em Economia da FGV
publisher.none.fl_str_mv Escola de Pós-Graduação em Economia da FGV
dc.source.none.fl_str_mv reponame:Repositório Institucional do FGV (FGV Repositório Digital)
instname:Fundação Getulio Vargas (FGV)
instacron:FGV
instname_str Fundação Getulio Vargas (FGV)
instacron_str FGV
institution FGV
reponame_str Repositório Institucional do FGV (FGV Repositório Digital)
collection Repositório Institucional do FGV (FGV Repositório Digital)
bitstream.url.fl_str_mv https://repositorio.fgv.br/bitstreams/a26d8721-3080-4bd7-881b-efccda5c530c/download
https://repositorio.fgv.br/bitstreams/b6fff540-90ea-46e1-9d11-d76df3d4a61c/download
https://repositorio.fgv.br/bitstreams/db0dbe19-5c94-4f9d-bf6b-23677c60a72d/download
bitstream.checksum.fl_str_mv e96faf3b2978711be88406726c121435
5c39ad113df32b8a9efe35d3917789f7
d0e6254fce9f2709c82d7a67b1a8d419
bitstream.checksumAlgorithm.fl_str_mv MD5
MD5
MD5
repository.name.fl_str_mv Repositório Institucional do FGV (FGV Repositório Digital) - Fundação Getulio Vargas (FGV)
repository.mail.fl_str_mv
_version_ 1813797854205968384

Registros relacionados