After excluding countries with high-inflation crises - periods when annual inflation is above 40 percent - the data … reveal no evidence of a consistent relationship between growth and inflation, at any frequency. But growth does tend to fall … sharply during discrete crises of high inflation and to recover surprisingly strongly after inflation falls. Perhaps inflation …

joint empirical analysis of growth and inflation, starting from a rudimentary short-term AS and AD framework that is … existence of a marked 20 year inflation and growth 'loop', extending beyond the conventional business cycles, with well … between inflation, economic activity, profits and investment renewal. The second part of the paper (Section IV) applies …

Recent literature suggests that long-run averages of growth and inflation are only weakly correlated and such … correlation is not robust to exclusion of extreme inflation observations; inclusion of time series panel data has improved matters …, but an aggregate parametric approach remains inconclusive. We propose a nonparametric definition of high inflation crises …

Recent literature suggests that long-run averages of growth and inflation are only weakly correlated and such … correlation is not robust to exclusion of extreme inflation observations; inclusion of time series panel data has improved matters …, but an aggregate parametric approach remains inconclusive. We propose a nonparametric definition of high inflation crises …