政大機構典藏-National Chengchi University Institutional Repository(NCCUR):Item 140.119/78264

English | 正體中文 | 简体中文 | Post-Print筆數 : 27 | 全文筆數/總筆數 : 113393/144380 (79%)
造訪人次 : 51234181 線上人數 : 919

RC Version 6.0 © Powered By DSPACE, MIT. Enhanced by NTU Library IR team.

政大機構典藏 > 社會科學學院 > 經濟學系 > 期刊論文 > Item 140.119/78264

請使用永久網址來引用或連結此文件: https://nccur.lib.nccu.edu.tw/handle/140.119/78264

題名:	Inflation, R&D and growth in an open economy
作者:	Chu, Angus C.;Cozzi, Guido;Lai, Ching-Chong;Liao, Chih-Hsing 賴景昌
貢獻者:	經濟系
關鍵詞:	Inflation;Economic growth;R&D;Trade in intermediate goods
日期:	2015-07
上傳時間:	2015-09-03 16:59:26 (UTC+8)
摘要:	This study explores the long-run effects of inflation in a two-country Schumpeterian growth model with cash-in-advance constraints on consumption and R&D investment. We find that increasing domestic inflation reduces domestic R&D investment and the growth rate of domestic technology. Given that economic growth in a country depends on both domestic and foreign technologies, increasing foreign inflation also affects the domestic economy. When each government conducts its monetary policy unilaterally to maximize the welfare of domestic households, the Nash-equilibrium inflation rates are generally higher than the optimal inflation rates chosen by cooperative governments who maximize the welfare of both domestic and foreign households. Under the CIA constraint on R&D (consumption), a larger market power of firms amplifies (mitigates) this inflationary bias. We use cross-country panel data to estimate the effects of inflation on R&D and also calibrate the two-country model to data in the Euro Area and the US to quantify the welfare effects of decreasing the inflation rates from the Nash equilibrium to the optimal level.
關聯:	Journal of International Economics, 96(2), 360-374
資料類型:	article
DOI 連結:	http://dx.doi.org/10.1016/j.jinteco.2015.03.007
DOI:	10.1016/j.jinteco.2015.03.007
顯示於類別:	[經濟學系] 期刊論文

文件中的檔案:

檔案	描述	大小	格式	瀏覽次數
360-374.pdf		574Kb	Adobe PDF2	805	檢視/開啟

在政大典藏中所有的資料項目都受到原著作權保護.

社群 sharing

著作權政策宣告 Copyright Announcement

1.本網站之數位內容為國立政治大學所收錄之機構典藏，無償提供學術研究與公眾教育等公益性使用，惟仍請適度，合理使用本網站之內容，以尊重著作權人之權益。商業上之利用，則請先取得著作權人之授權。
The digital content of this website is part of National Chengchi University Institutional Repository. It provides free access to academic research and public education for non-commercial use. Please utilize it in a proper and reasonable manner and respect the rights of copyright owners. For commercial use, please obtain authorization from the copyright owner in advance.

2.本網站之製作，已盡力防止侵害著作權人之權益，如仍發現本網站之數位內容有侵害著作權人權益情事者，請權利人通知本網站維護人員(nccur@nccu.edu.tw)，維護人員將立即採取移除該數位著作等補救措施。
NCCU Institutional Repository is made to protect the interests of copyright owners. If you believe that any material on the website infringes copyright, please contact our staff(nccur@nccu.edu.tw). We will remove the work from the repository and investigate your claim.

資料載入中.....