This paper investigates the view that the often-documented negative relationship between inflation and economic growth is largely spurious, resulting primarily from supply shocks which raise inflation and hurt growth. Evidence from tests of structural breaks is consistent with this hypothesis,...

While a negative correlation between inflation and real stock returns has been well documented, the cause of this relationship has been the subject of considerable controversy. The most plausible causal interpretation is the variability hypothesis which points to a chain from higher inflation to...

While there has been considerable research on the consequences of financial crises, there has been little empirical research on the possible effects of the role of domestic political institutions that influence a government's ability to implement crisis management policies. This paper...

Purpose – The purpose of this paper is to discuss implications of the global crisis for economic and financial research and policy. Design/methodology/approach – The paper reviews many recent studies on the crisis and offers the author's views on some of the most important lessons to be...

Using panel estimation for a large sample of industrial and developing countries we find significant negative effects of inflation on economic growth. The magnitude of these effects is, however, much larger for the industrial countries than for the developing countries

Economists' continuing criticisms of protectionism make a valuable contribution to the general interest element of the forces which operate to keep propensities to protect somewhat in check. McKenzie rightly warns, however, that proposals by economists for giving protection in more efficient...