This aim of this paper is to give a contribution to the debate on whether output-inflation trade-offs are negatively influenced by the mean of inflation (as postulated by new-Keynesians) or by the variability of inflation (as postulated by neo-classical economists). To remove any concerns about...

The effect of government taxation on future consumption has been explained in three ways: the Keynesian approach, the Ricardian Equivalence proposition and the German view of Expansionary Fiscal Contraction (EFC). This paper reports empirical evidence on the validity of these explanations by...

This article contributes to the literature on the relationship between financial development and economic growth in three ways: it utilizes recently developed techniques for generalized methods of moments (GMM) one-step estimation with dynamic panel models, it focuses exclusively on a sample of...