Inflation, R&D and growth in an open economy

This study explores the long-run effects of inflation in a two-country Schumpeterian growth model with cash-in-advance constraints on consumption and R&D investment. We find that increasing domestic inflation reduces domestic R&D investment and the growth rate of domestic technology. Given t...

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Veröffentlicht in:	Journal of international economics 2015-07, Vol.96 (2), p.360-374
Hauptverfasser:	Chu, Angus C., Cozzi, Guido, Lai, Ching-Chong, Liao, Chih-Hsing
Format:	Artikel
Sprache:	eng
Schlagworte:	Bias Consumption Eastern Europe Economic growth Economic theory Game theory Growth models Inflation Inflation rate Inflation rates International economics Monetary policy Open economies R&D Research & development Research and development Studies Trade in intermediate goods U.S.A Welfare economics Western Europe
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