Inflation, Complexity and Endogenous Growth

Detalhes bibliográficos
Autor(a) principal: Sequeira, Tiago
Data de Publicação: 2021
Outros Autores: Gil, Pedro Mazeda, Afonso, Óscar
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10316/93643
https://doi.org/10.1080/00036846.2020.1864274
Resumo: In this article, we argue that inflation increases complexity pertaining to knowledge production (or R&D). Then, we expand a recently developed complexity index based on entropy to include the effect of inflation. As a result of this new mechanism in an endogenous growth model, inflation is no longer superneutral. In the model, inflation can decrease economic growth in a nonlinear way, a sudden upward shock on inflation can severely hurt economic growth and an inflation cut can be responsible for a take-off. These effects are illustrated quantitatively
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spelling Inflation, Complexity and Endogenous Growthinflation, endogenous economic growth, complexity effects, entropyIn this article, we argue that inflation increases complexity pertaining to knowledge production (or R&D). Then, we expand a recently developed complexity index based on entropy to include the effect of inflation. As a result of this new mechanism in an endogenous growth model, inflation is no longer superneutral. In the model, inflation can decrease economic growth in a nonlinear way, a sudden upward shock on inflation can severely hurt economic growth and an inflation cut can be responsible for a take-off. These effects are illustrated quantitatively2021-01-24info:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articlehttp://hdl.handle.net/10316/93643http://hdl.handle.net/10316/93643https://doi.org/10.1080/00036846.2020.1864274enghttps://www.tandfonline.com/doi/abs/10.1080/00036846.2020.1864274?journalCode=raec20Sequeira, TiagoGil, Pedro MazedaAfonso, Óscarinfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2022-05-25T10:05:23Zoai:estudogeral.uc.pt:10316/93643Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T21:12:34.008300Repositório 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, Complexity and Endogenous Growth
title Inflation, Complexity and Endogenous Growth
spellingShingle Inflation, Complexity and Endogenous Growth
Sequeira, Tiago
inflation, endogenous economic growth, complexity effects, entropy
title_short Inflation, Complexity and Endogenous Growth
title_full Inflation, Complexity and Endogenous Growth
title_fullStr Inflation, Complexity and Endogenous Growth
title_full_unstemmed Inflation, Complexity and Endogenous Growth
title_sort Inflation, Complexity and Endogenous Growth
author Sequeira, Tiago
author_facet Sequeira, Tiago
Gil, Pedro Mazeda
Afonso, Óscar
author_role author
author2 Gil, Pedro Mazeda
Afonso, Óscar
author2_role author
author
dc.contributor.author.fl_str_mv Sequeira, Tiago
Gil, Pedro Mazeda
Afonso, Óscar
dc.subject.por.fl_str_mv inflation, endogenous economic growth, complexity effects, entropy
topic inflation, endogenous economic growth, complexity effects, entropy
description In this article, we argue that inflation increases complexity pertaining to knowledge production (or R&D). Then, we expand a recently developed complexity index based on entropy to include the effect of inflation. As a result of this new mechanism in an endogenous growth model, inflation is no longer superneutral. In the model, inflation can decrease economic growth in a nonlinear way, a sudden upward shock on inflation can severely hurt economic growth and an inflation cut can be responsible for a take-off. These effects are illustrated quantitatively
publishDate 2021
dc.date.none.fl_str_mv 2021-01-24
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
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status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10316/93643
http://hdl.handle.net/10316/93643
https://doi.org/10.1080/00036846.2020.1864274
url http://hdl.handle.net/10316/93643
https://doi.org/10.1080/00036846.2020.1864274
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv https://www.tandfonline.com/doi/abs/10.1080/00036846.2020.1864274?journalCode=raec20
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eu_rights_str_mv openAccess
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