Gillman, Max; Harris, Mark; Mátyás, László - International Conferences on Panel Data - 2002
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 …