Andrés, Javier; Hernando, Ignacio; López-Salido, J. David - Banco de España - 1999
The main contribution of this paper is to jointly estimate the effects of financial development and inflation on growth …. We aim to exploit both the cross-section and the time-series dimension of the data on inflation, growth and some banking …, that the long-run costs of inflation are not explained by policies of financial repression, and second, that if inflation …