Inflation, Innovation and Growth: A Survey
Angus Chu ()
MPRA Paper from University Library of Munich, Germany
In this survey, we provide a selective review of the literature on inflation, innovation and economic growth. The relationship between inflation and economic growth is a fundamental question in economics. Most studies in this literature explore this relationship in capital-based growth models. This survey reviews a recent branch of this literature on inflation and innovation-driven growth. Specifically, we develop a canonical monetary Schumpeterian growth model to demonstrate the effects of inflation on innovation and the macroeconomy via different channels. We find that the cash-in-advance constraints on consumption and R&D investment have drastically different implications on the macroeconomic effects of inflation.
Keywords: inflation; innovation; , economic growth (search for similar items in EconPapers)
JEL-codes: E31 O3 O4 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-fdg, nep-gro, nep-ino, nep-mac, nep-mon, nep-sbm and nep-tid
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:103740
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