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- W279870480 abstract "This chapter discusses three neoclassical growth models in which the government has both a fiscal and a monetary instrument with which to control the demand for capital and the supply of saving. In these equilibrium models, there is no inherent relationship between the inflation rate and the economy's capital intensity as measured, say, by the real interest rate or the capital–labor ratio. For each of these models, capital intensity is invariant to the inflation rate if net real government indebtedness is insulated from the rate of inflation through suitable compensatory action either by the central bank or by the government treasury. The second contribution is to the equilibrium theory of the inflation rate." @default.
- W279870480 created "2016-06-24" @default.
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- W279870480 date "1979-01-01" @default.
- W279870480 modified "2023-09-23" @default.
- W279870480 title "MONEY, TAXATION, INFLATION AND REAL INTEREST" @default.
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- W279870480 doi "https://doi.org/10.1016/b978-0-12-554001-8.50016-8" @default.
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