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Description
| - Tato studie ukazuje, že navzdory konvenčnímu názoru dokáže ekonomika s endogenním růstem, lidským kapitálem a alternativními platebními mechanismy uspokojivě vysvětlit hlavní aspekty dlouhodobé inflace. Studie vysvětluje negativní vztah inflace a růstu včetně zvláštní nelinearity, zjištěné opakovaně v předchozích studiích. Studie také objasňuje Tobin efekty (1965) a spojuje jejich velkost skrze úrokovou elasticitu poptávky po penězích s efekty růstu. Tohle dosud nevysvětlené spojení napomáhá lépe intuitivně pochopit jak je možné robustním způsobem přijatelným způsobem vysvětlit zkušenost s inflací v modelech zahrnujících úvěr jako platební mechanismus. (cs)
- The paper shows that contrary to conventional wisdom an endogenous growth economy with human capital and alternative payment mechanisms can robustly explain major facets of the long run inflation experience. A negative inflation-growth relation is explained, including a striking nonlinearity found repeatedly in empirical studies. A set of Tobin (1965) effects are also explained and, further, linked in magnitude to the growth effects through the interest elasticity of money demand. Undisclosed previously, this link helps fill out the intuition of how the inflation experience can be plausibly explained in a robust fashion with a model extended to include credit as a payment mechanism.
- The paper shows that contrary to conventional wisdom an endogenous growth economy with human capital and alternative payment mechanisms can robustly explain major facets of the long run inflation experience. A negative inflation-growth relation is explained, including a striking nonlinearity found repeatedly in empirical studies. A set of Tobin (1965) effects are also explained and, further, linked in magnitude to the growth effects through the interest elasticity of money demand. Undisclosed previously, this link helps fill out the intuition of how the inflation experience can be plausibly explained in a robust fashion with a model extended to include credit as a payment mechanism. (en)
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Title
| - Inflation and balanced-path growth with alternative payment mechanisms
- Inflation and balanced-path growth with alternative payment mechanisms (en)
- Inflace a vyvážený růst s alternativními mechanismy plateb (cs)
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skos:prefLabel
| - Inflation and balanced-path growth with alternative payment mechanisms
- Inflation and balanced-path growth with alternative payment mechanisms (en)
- Inflace a vyvážený růst s alternativními mechanismy plateb (cs)
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skos:notation
| - RIV/67985998:_____/04:00102660!RIV/2005/AV0/A44005/N
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http://linked.open...avai/riv/aktivita
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http://linked.open...avai/riv/aktivity
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http://linked.open...vai/riv/dodaniDat
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http://linked.open...aciTvurceVysledku
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http://linked.open.../riv/druhVysledku
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http://linked.open...iv/duvernostUdaju
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http://linked.open...titaPredkladatele
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http://linked.open...dnocenehoVysledku
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http://linked.open...ai/riv/idVysledku
| - RIV/67985998:_____/04:00102660
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http://linked.open...riv/jazykVysledku
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http://linked.open.../riv/klicovaSlova
| - human capital;cash-in-advance;interest-elasticity (en)
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http://linked.open.../riv/klicoveSlovo
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http://linked.open...i/riv/kodPristupu
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http://linked.open...ontrolniKodProRIV
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http://linked.open...i/riv/mistoVydani
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http://linked.open...telVyzkumneZpravy
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http://linked.open...in/vavai/riv/obor
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http://linked.open...ichTvurcuVysledku
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http://linked.open...cetTvurcuVysledku
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http://linked.open...UplatneniVysledku
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http://linked.open...iv/tvurceVysledku
| - Gillman, M.
- Kejak, Michal
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http://linked.open...rzeVyzkumneZpravy
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http://linked.open...n/vavai/riv/zamer
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