Browsing Research Articles (Economics) by Author "Makena, Philton"

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Browsing Research Articles (Economics) by Author "Makena, Philton"

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  • Growth dynamics, multiple equilibria, and local indeterminacy in an endogenous growth model of money, banking and inflation targeting 
    Gupta, Rangan; Makena, Philton (MDPI, 2020-03)
    We develop an overlapping generations monetary endogenous growth (generated by productive public expenditures) model with inflation targeting, characterized by relocation shocks for young agents, which in turn generates ...
  • Income inequality and economic growth : a re-examination of theory and evidence 
    Balcilar, Mehmet; Gupta, Rangan; Ma, Wei; Makena, Philton (Wiley, 2021-05)
    We re-examine the theoretical and empirical relationship between income inequality and long-run economic growth in an endogenous growth model with a flat tax on income, distributive conflicts among agents, and median voter ...
  • Inflation aversion and the growth-inflation relationship 
    Gupta, Rangan; Makena, Philton (Annals of Economics and Finance, 2019-11)
    This paper reexamines the theoretical relationship between inflation and output growth by introducing inflation aversion in a standard overlapping generations monetary endogenous growth model with productive public ...
  • Socio-political instability and growth dynamics 
    Bittencourt, Manoel; Gupta, Rangan; Makena, Philton; Stander, Lardo (Elsevier, 2022-12)
    We develop an overlapping generations (OLG) monetary endogenous growth model characterized by socio-political instability, with the latter being specified as a fraction of output lost due to strikes, riots and protests. ...
  • Why must it always be so Real with tax evasion? 
    Gupta, Rangan; Makena, Philton (Elsevier, 2020-11)
    We provide an alternative theoretical explanation to the tax evasion-inflation relationship by endogenizing the discount factor in an overlapping generations economy. When the discount factor is a positive function of ...