Money,inflation, and optimal economic growth |
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Authors: | John Z Drabicki Akira Takayama |
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Institution: | University of Arizona, Tucson, AZ 85721, USA;Purdue University, West Lafayette, IN 47907, USA |
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Abstract: | Using a two-asset model of a growing competitive economy, it is shown that the optimal growth path can be achieved via a policy operating exclusively on the rate of growth of the money stock. |
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