Further Theoretical and Empirical Evidence on Money to Growth Relation

Alexandru Minea (), Christophe Rault () and Patrick Villieu ()

No wp909, William Davidson Institute Working Papers Series from William Davidson Institute at the University of Michigan Stephen M. Ross Business School

Abstract: This paper proposes a theoretical growth model where seigniorage can be used to finance productive public spending, and show the existence of nonlinear effects between seigniorage and economic growth. Empirical evidence based on panel regression techniques provides some support for these nonlinear effects on a sample of OECD countries over the 1978-2005 period.

Keywords: economic growth; nonlinear effects of monetary policy (search for similar items in EconPapers)
JEL-codes: E52 E62 H54 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cba, nep-fdg, nep-mac and nep-mon
Date: Written 2008-02-01
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Related works:
Journal Article: Further theoretical and empirical evidence on money to growth relation (2008)
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