Does inflation harm economic growth?: evidence for the OECD
The purpose of this paper is to study the correlation among growth and inflation at the OECD level, within the framework of the so-called convergence equations, and to discuss whether this correlation withstands a number of improvements in the empirical models, which try to address the most common c...
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| Main Authors: | , |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
Cambridge, Mass.
1997
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| Series: | National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series
6062 |
| Subjects: | |
| Online Access: | Volltext |
| Summary: | The purpose of this paper is to study the correlation among growth and inflation at the OECD level, within the framework of the so-called convergence equations, and to discuss whether this correlation withstands a number of improvements in the empirical models, which try to address the most common criticisms of this evidence. The main findings are the following: 1) the negative correlation among growth and inflation is not explained by the experience of high-inflation economies; 2) the estimated costs of inflation are still significant once country-specific effects are allowed for in the empirical model; and 3) the observed correlation cannot be dismissed on the grounds of reverse causation (from GDP to inflation). |
| Physical Description: | 31 S. graph. Darst. |
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| indexdate | 2024-07-09T18:14:41Z |
| institution | BVB |
| language | English |
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| physical | 31 S. graph. Darst. |
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| series | National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series |
| series2 | National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series |
| spelling | Andrés, Javier Verfasser aut Does inflation harm economic growth? evidence for the OECD Javier Andrés ; Ignacio Hernando Cambridge, Mass. 1997 31 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series 6062 The purpose of this paper is to study the correlation among growth and inflation at the OECD level, within the framework of the so-called convergence equations, and to discuss whether this correlation withstands a number of improvements in the empirical models, which try to address the most common criticisms of this evidence. The main findings are the following: 1) the negative correlation among growth and inflation is not explained by the experience of high-inflation economies; 2) the estimated costs of inflation are still significant once country-specific effects are allowed for in the empirical model; and 3) the observed correlation cannot be dismissed on the grounds of reverse causation (from GDP to inflation). Wirtschaftsentwicklung Ökonometrisches Modell Economic development Econometric models Inflation (Finance) OECD countries Econometric models Hernando, Ignacio Verfasser (DE-588)123933641 aut Erscheint auch als Online-Ausgabe National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series 6062 (DE-604)BV002801238 6062 http://papers.nber.org/papers/w6062.pdf kostenfrei Volltext |
| spellingShingle | Andrés, Javier Hernando, Ignacio Does inflation harm economic growth? evidence for the OECD National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series Wirtschaftsentwicklung Ökonometrisches Modell Economic development Econometric models Inflation (Finance) OECD countries Econometric models |
| title | Does inflation harm economic growth? evidence for the OECD |
| title_auth | Does inflation harm economic growth? evidence for the OECD |
| title_exact_search | Does inflation harm economic growth? evidence for the OECD |
| title_full | Does inflation harm economic growth? evidence for the OECD Javier Andrés ; Ignacio Hernando |
| title_fullStr | Does inflation harm economic growth? evidence for the OECD Javier Andrés ; Ignacio Hernando |
| title_full_unstemmed | Does inflation harm economic growth? evidence for the OECD Javier Andrés ; Ignacio Hernando |
| title_short | Does inflation harm economic growth? |
| title_sort | does inflation harm economic growth evidence for the oecd |
| title_sub | evidence for the OECD |
| topic | Wirtschaftsentwicklung Ökonometrisches Modell Economic development Econometric models Inflation (Finance) OECD countries Econometric models |
| topic_facet | Wirtschaftsentwicklung Ökonometrisches Modell Economic development Econometric models Inflation (Finance) OECD countries Econometric models |
| url | http://papers.nber.org/papers/w6062.pdf |
| volume_link | (DE-604)BV002801238 |
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