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 …

We show that the effects of inflation on growth change substantially as the inflation rate rises. Moreover the … inflation first begins to seriously negatively affect growth is around 8% for industrial economies but 3% or less for developing … countries. Marginal growth costs for developing countries then decline significantly above 50% inflation. Failure to account for …

We estimate the dynamic effects of changes in retail energy prices on inflation using a novel monthly database …, covering 110 countries over 2000:M1 to 2016:M6. We find that (i) inflation responds positively to retail energy price shocks … response of inflation to these shocks owing to differences in factors related to labor market flexibility, energy intensity …