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economic model suggests a negative inflation-growth effect, and one that is stronger at lower levels of inflation. Empirical … negative inflation effect is found comprehensively for the OECD countries to be significant and, as in the theory, to increase … marginally as the inflation rate falls. For APEC countries, the results from using instrumental variables also show significant …
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The paper examines the effect of inflation on growth in transition countries. It presents panel data evidence for 13 … effect on growth of inflation or its standard deviation, and one that appears to decline in magnitude as the inflation rate … equation model is examined by expanding this into a three equation simultaneous system of output growth, inflation and money …
Persistent link: https://www.econbiz.de/10010494404
The paper examines the effect of inflation on growth in transition countries. It presents panel data evidence for 13 … find a strong, robust, negative effect on growth, and one that declines in magnitude as the inflation rate increases. These … results include a role for a normalized money demand, by itself and as part of a nonlinearity in the inflation-growth effect …
Persistent link: https://www.econbiz.de/10010288837
inflation and Tobin's q; a normalized market price of capital. This stylized fact is explained within a dynamic stochastic … rising marginal cost of investment, (ii) production of human capital with endogenous growth and (iii) an inflation tax cash …-in-advance economy. The baseline endogenous growth model matches the US inflation and q long term correlation, while comparable exogenous …
Persistent link: https://www.econbiz.de/10010494429
inflation and Tobin’s q; a normalized market price of capital. This stylized fact is explained within a dynamic stochastic … rising marginal cost of investment, (ii) production of human capital with endogenous growth and (iii) an inflation tax cash …-in-advance economy. The baseline endogenous growth model matches the US inflation and q long term correlation, while comparable exogenous …
Persistent link: https://www.econbiz.de/10008668754
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payment mechanisms can robustly explain major facets of the long run inflation experience. A negative inflation …. Undisclosed previously, this link helps fill out the intuition of how the inflation experience can be plausibly explained in a …
Persistent link: https://www.econbiz.de/10011516873