Our aim in this paper is to test the robustness of the relation between total factor productivity growth and inflation … period 1964-1980. The results confirm that the acceleration of inflation from 1964-1972 to 1973-1980 reduced total factor … effect of inflation is separated from the effects of technical change and economies of scale, the choice of functional form …

The empirical evidence suggests that there is a significant, negative relationship between inflation and economic …. Therefore the technology of the financial sector influences the velocity of money, and consequently, how inflation affects … generates an inflation-growth effect whose magnitude falls in the range found by the empirical studies. Moreover, in contrast to …

equities fail the test as inflation hedges, as had been quite widely believed, but that they take so long to pass. …

its position in the income distribution, as well as objective aggregate data, such as inflation or the private sector …

robust aggregate effect is that those countries that are able to keep inflation low get more support for market reforms …