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dc.contributor.upauthor | Gupta, Rangan | |
dc.date.accessioned | 2008-02-15T09:03:30Z | |
dc.date.available | 2008-02-15T09:03:30Z | |
dc.date.issued | 2006-03 | |
dc.description.abstract | The paper develops a dynamic general equilibrium monetary endogenous growth model of a closed economy inhabited by consumers, firms, a Cournotian monopolistically competitive banking system, besides, an inflation-targeting monetary authority, and, in turn, analyzes the effect of a tight monetary (disinflationary) policy on growth. We show that the effect of lower inflation target on growth is ambiguous, with the ultimate effect depending on the initial level of growth, the individual bank size, the degree of risk aversion, the elasticity of output with respect to capital, the discount factor and the size of the cash-reserve ratio. | en |
dc.description.librarian | nf2012 | en |
dc.format.extent | 223490 bytes | |
dc.format.mimetype | application/pdf | |
dc.identifier.citation | Gupta, R 2006, 'Growth-effects of inflation targeting : the role of financial sector development', University of Pretoria, Department of Economics, Working paper series, no. 2006-10. [http://web.up.ac.za/default.asp?ipkCategoryID=736&sub=1&parentid=677&subid=729&ipklookid=3] | en |
dc.identifier.uri | http://hdl.handle.net/2263/4454 | |
dc.language.iso | en | en |
dc.publisher | University of Pretoria, Department of Economics | en |
dc.relation.ispartofseries | Working Paper (University of Pretoria, Department of Economics) | en |
dc.relation.ispartofseries | 2006-10 | en |
dc.rights | University of Pretoria, Department of Economics | en |
dc.subject | Economic growth | en |
dc.subject | Financial sector development | en |
dc.subject.lcsh | Inflation (Finance) | en |
dc.subject.lcsh | Economic development | en |
dc.subject.lcsh | Inflation targeting | en |
dc.title | Growth-effects of inflation targeting : the role of financial sector development | en |
dc.type | Working Paper | en |