Inflation aversion and the growth-inflation relationship

Gupta, Rangan; Makena, Philton

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dc.contributor.author	Gupta, Rangan
dc.contributor.author	Makena, Philton
dc.date.accessioned	2020-07-13T08:55:20Z
dc.date.available	2020-07-13T08:55:20Z
dc.date.issued	2019-11
dc.description.abstract	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 expenditure. We show that when the time preference parameter is a negative function of expected money growth rate, then the theoretical growth-inflation relationship that emerges is "hump-shaped". This finding is consistent with recent empirical literature.	en_ZA
dc.description.department	Economics	en_ZA
dc.description.librarian	am2020	en_ZA
dc.description.uri	http://www.aeconf.net/index.htm	en_ZA
dc.identifier.citation	Gupta, R & Makena, P 2019, 'Inflation aversion and the growth-inflation relationship', Annals of Economics and Finance, vol. 20, no. 2, pp. 803-815.	en_ZA
dc.identifier.issn	1529-7373
dc.identifier.uri	http://hdl.handle.net/2263/75164
dc.language.iso	en	en_ZA
dc.publisher	Annals of Economics and Finance	en_ZA
dc.rights	© 2019 Annals of Economics and Finance	en_ZA
dc.subject	Inflation	en_ZA
dc.subject	Inflation aversion	en_ZA
dc.subject	Endogenous growth	en_ZA
dc.subject	Output growth	en_ZA
dc.subject	Public expenditure	en_ZA
dc.title	Inflation aversion and the growth-inflation relationship	en_ZA
dc.type	Article	en_ZA