Nonlinear effects of inflation on economic growth

被引：9

作者：

Sarel, M ^{[1
]}

机构：

[1] INT MONETARY FUND,RES DEPT,WASHINGTON,DC 20431

来源：

INTERNATIONAL MONETARY FUND STAFF PAPERS | 1996年 / 43卷 / 01期

关键词：

D O I：

暂无

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

This paper examines the possibility of nonlinear effects of inflation on economic growth. It finds evidence of a significant structural break in the function that relates economic growth to inflation. The break is estimated to occur when the inflation rate is 8 percent. Below that rate, inflation does not have any effect on growth, or it may even have a slightly positive effect. When the inflation rate is above 8 percent, however, the estimated effect of inflation on growth rates is significant, robust, and extremely powerful. The paper also demonstrates that when the existence of the structural break is ignored, the estimated effect of inflation on growth is biased by a factor of three.

引用

页码：199 / 215

页数：17

共 17 条

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[12]

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[13]

PAZOS F, 1972, CHRONIC INFLATION LA

[14] INFLATION AND GROWTH [J].