Inflation, economic growth and education expenditure

Detalhes bibliográficos
Autor(a) principal: Sequeira, Tiago Neves
Data de Publicação: 2021
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10316/98788
https://doi.org/10.1016/j.econmod.2021.02.016
Resumo: Recent evidence shows that different inflation rates have effects on long-run economic growth. We follow the increasing interest in the issue offering a new explanation for the influence of monetary policy on economic growth: cash re¬quirements for household expenditures in education. We devise an endogenous growth model with cash-in-advance (CIA) constraints in several sectors (education, horizontal R&D, vertical R&D, and manufacturing and consumption) and study its steady-state and transitional dynamics. In particular, the CIA con¬straint in education expenditures of households is essential to obtain a negative relationship between inflation and economic growth in the long-run. Quan¬titatively, this monetary endogenous growth model replicates both the small influence of monetary policy on growth, while highlighting the effects it can have on welfare and the allocation of resources in different sectors of the economy
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spelling Inflation, economic growth and education expenditure: endogenous economic growth, inflation, interest rate, monetary policy, cash-in-advance (CIA)Recent evidence shows that different inflation rates have effects on long-run economic growth. We follow the increasing interest in the issue offering a new explanation for the influence of monetary policy on economic growth: cash re¬quirements for household expenditures in education. We devise an endogenous growth model with cash-in-advance (CIA) constraints in several sectors (education, horizontal R&D, vertical R&D, and manufacturing and consumption) and study its steady-state and transitional dynamics. In particular, the CIA con¬straint in education expenditures of households is essential to obtain a negative relationship between inflation and economic growth in the long-run. Quan¬titatively, this monetary endogenous growth model replicates both the small influence of monetary policy on growth, while highlighting the effects it can have on welfare and the allocation of resources in different sectors of the economy2021-03-092024-03-08T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articlehttp://hdl.handle.net/10316/98788http://hdl.handle.net/10316/98788https://doi.org/10.1016/j.econmod.2021.02.016eng02649993https://www.sciencedirect.com/science/article/pii/S026499932100050X?via%3DihubSequeira, Tiago Nevesinfo:eu-repo/semantics/embargoedAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-10-27T11:05:01Zoai:estudogeral.uc.pt:10316/98788Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T21:16:32.046209Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv Inflation, economic growth and education expenditure
title Inflation, economic growth and education expenditure
spellingShingle Inflation, economic growth and education expenditure
Sequeira, Tiago Neves
: endogenous economic growth, inflation, interest rate, monetary policy, cash-in-advance (CIA)
title_short Inflation, economic growth and education expenditure
title_full Inflation, economic growth and education expenditure
title_fullStr Inflation, economic growth and education expenditure
title_full_unstemmed Inflation, economic growth and education expenditure
title_sort Inflation, economic growth and education expenditure
author Sequeira, Tiago Neves
author_facet Sequeira, Tiago Neves
author_role author
dc.contributor.author.fl_str_mv Sequeira, Tiago Neves
dc.subject.por.fl_str_mv : endogenous economic growth, inflation, interest rate, monetary policy, cash-in-advance (CIA)
topic : endogenous economic growth, inflation, interest rate, monetary policy, cash-in-advance (CIA)
description Recent evidence shows that different inflation rates have effects on long-run economic growth. We follow the increasing interest in the issue offering a new explanation for the influence of monetary policy on economic growth: cash re¬quirements for household expenditures in education. We devise an endogenous growth model with cash-in-advance (CIA) constraints in several sectors (education, horizontal R&D, vertical R&D, and manufacturing and consumption) and study its steady-state and transitional dynamics. In particular, the CIA con¬straint in education expenditures of households is essential to obtain a negative relationship between inflation and economic growth in the long-run. Quan¬titatively, this monetary endogenous growth model replicates both the small influence of monetary policy on growth, while highlighting the effects it can have on welfare and the allocation of resources in different sectors of the economy
publishDate 2021
dc.date.none.fl_str_mv 2021-03-09
2024-03-08T00:00:00Z
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dc.identifier.uri.fl_str_mv http://hdl.handle.net/10316/98788
http://hdl.handle.net/10316/98788
https://doi.org/10.1016/j.econmod.2021.02.016
url http://hdl.handle.net/10316/98788
https://doi.org/10.1016/j.econmod.2021.02.016
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv 02649993
https://www.sciencedirect.com/science/article/pii/S026499932100050X?via%3Dihub
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