Inflation, Wealth And The Real Rate Of Interest

Walter Enders

ISU General Staff Papers from Iowa State University, Department of Economics

Abstract: Mundell obtains this result by postulating stable flow demands for assets, whereas — as is argued here -- saving and investment arise from an inequality between actual and desired asset stocks. The model developed in this paper will include both the stock and flow demands for assets and demonstrates that inflation will permanently alter the real interest rate only if it can change the desired stock of capital.

Date: 1975-03-01
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