Arai, Mahmood; Kinnwall, Mats; Thoursie, Peter Skogman - In: Applied Economics 36 (2004) 15, pp. 1705-1715
Empirical foundations for the view that high inflation impairs GDP growth are examined using annual data for 115 countries over the period 1960-1995. Taking into account country heterogeneity and time-specific symmetric shocks, as well as endogeneity of inflation and dynamics of GDP growth,...