Financial Deepening, Inflation and Economic Growth

Shouyong Shi and Aleksander Berentsen

No 673, 2008 Meeting Papers from Society for Economic Dynamics

Abstract: We develop a general equilibrium framework to analyze the relationship between the operation of the financial system, inflation and economic growth. We first investigate the dynamic interactions between financial development and growth by analyzing how financial innovations affect real growth, and, in turn, growth affects the financial system. We then study how inflation affects financial deepening and economic growth. Finally, we discuss policy implications and derive optimal fiscal and monetary policies.

Date: 2008
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Persistent link: https://EconPapers.repec.org/RePEc:red:sed008:673

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