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Effort, Productivity and Inflation

Author

Listed:
  • Joao Ricardo Faria
  • Peter J. Sanfey

Abstract

This paper examines the effect of inflation on effort and productivity in a representative agent model. We allow individual effort to be a continuous choice variable, which affects utility negatively and output positively. Our general model shows that the effect of inflation on effort, and hence on productivity, is ambiguous. We present an example where the effect is positive, thus demonstrating that a rise in inflation can have beneficial effects in terms of rising productivity, output and growth.

Suggested Citation

  • Joao Ricardo Faria & Peter J. Sanfey, 1997. "Effort, Productivity and Inflation," Studies in Economics 9706, School of Economics, University of Kent.
    • Handle: RePEc:ukc:ukcedp:9706
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    More about this item

    Keywords

    Labour effort; Labour supply; Inflation; Productivity;
    All these keywords.

    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • J22 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Time Allocation and Labor Supply
    • O42 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Monetary Growth Models

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