Real interest rates and endogenous growth in a monetary economy

Milton H. Marquis; Kevin L. Reffett

doi:10.1016/0165-1765(91)90115-2

Real interest rates and endogenous growth in a monetary economy

Milton H. Marquis, Kevin L. Reffett

Research output: Contribution to journal › Article › peer-review

24 Scopus citations

Abstract

In endogenous growth models where the engine of growth is human capital acquired via formal education, inflation taxes may raise or lower real interest rates depending upon whether or not physical and/or human capital are liquidity constrained. Cases are examined.

Original language	English (US)
Pages (from-to)	105-109
Number of pages	5
Journal	Economics Letters
Volume	37
Issue number	2
DOIs	https://doi.org/10.1016/0165-1765(91)90115-2
State	Published - Oct 1991
Externally published	Yes

ASJC Scopus subject areas

Finance
Economics and Econometrics

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title = "Real interest rates and endogenous growth in a monetary economy",

abstract = "In endogenous growth models where the engine of growth is human capital acquired via formal education, inflation taxes may raise or lower real interest rates depending upon whether or not physical and/or human capital are liquidity constrained. Cases are examined.",

author = "Marquis, {Milton H.} and Reffett, {Kevin L.}",

year = "1991",

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AU - Marquis, Milton H.

AU - Reffett, Kevin L.

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JO - Economics Letters

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Real interest rates and endogenous growth in a monetary economy

Abstract

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