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Inflation and Growth

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NBER1983-11-01 更新2025-01-04 收录
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https://www.nber.org/papers/w1235
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Models of inflation and growth in the sixties emphasized the portfolio substitution mechanism by which higher inflation made capital more attractive to hold relative to money, leading to higher capital intensity, and in the transition period to higher growth.The empirical evidence, however, is that
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1983-11-01
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