Nonlinear Effects Of Inflation On Economic Growth

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Nonlinear Effects Of Inflationon Economic Growth

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Author : Mr.Michael Sarel
language : en
Publisher: International Monetary Fund
Release Date : 1995-06-01

Nonlinear Effects Of Inflationon Economic Growth written by Mr.Michael Sarel and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995-06-01 with Business & Economics categories.

This paper examines the possibility of nonlinear effects of inflation on economic growth. It finds evidence of a significant structural break in the function that relates economic growth to inflation. The break is estimated to occur when the inflation rate is 8 percent. Below that rate, inflation does not have any effect on growth, or it may even have a slightly positive effect. When the inflation rate is above 8 percent, however, the estimated effect of inflation on growth rates is significant, robust and extremely powerful. The paper also demonstrates that when the existence of the structural break is ignored, the estimated effect of inflation on growth is biased by a factor of three.

Nonlinear Effects Of Inflation On Economic Growth

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Author : Michael Sarel
language : en
Publisher:
Release Date : 2006

Nonlinear Effects Of Inflation On Economic Growth written by Michael Sarel and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with categories.

This paper examines the possibility of nonlinear effects of inflation on economic growth. It finds evidence of a significant structural break in the function that relates economic growth to inflation. The break is estimated to occur when the inflation rate is 8 percent. Below that rate, inflation does not have any effect on growth, or it may even have a slightly positive effect. When the inflation rate is above 8 percent, however, the estimated effect of inflation on growth rates is significant, robust and extremely powerful. The paper also demonstrates that when the existence of the structural break is ignored, the estimated effect of inflation on growth is biased by a factor of three.

Nonlinear Effects Of Inflation On Economic Growth

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Author : Francisco Véga
language : en
Publisher:
Release Date : 1999

Nonlinear Effects Of Inflation On Economic Growth written by Francisco Véga and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999 with Economic development categories.

Nonlinear Relation Between Inflation And Growth Panel Data Analysis

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Author : Anna Miller
language : en
Publisher: GRIN Verlag
Release Date : 2013-10-24

Nonlinear Relation Between Inflation And Growth Panel Data Analysis written by Anna Miller and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-10-24 with Business & Economics categories.

Master's Thesis from the year 2013 in the subject Economics - Economic Cycle and Growth, grade: 64%, University of Nottingham, language: English, abstract: This paper examines the inflation-growth interaction for different country groups with similar national incomes for the period 1970-2011. It could be confirmed that this relation is strictly nonlinear with a threshold level of inflation of 3% for high-income countries and 13% for low-income countries. Although this result is in line with previous empirical studies based on a similar data set, much smaller samples needed to be used to obtain these results. Inflation threshold levels are estimated using the iteration method and different panel-specific techniques. Strongly significant thresholds were yielded only when controlling for country-fixed effects. Policymakers can use the findings for high-income or industrialised countries as a guide for inflation targeting, however more precise analyses for less advanced countries are needed in order to be useful for monetary policy.

Non Linearity In The Inflation Growth Relationship In Developing Economies

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Author : Deniz Baglan
language : en
Publisher:
Release Date : 2014

Non Linearity In The Inflation Growth Relationship In Developing Economies written by Deniz Baglan and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with categories.

Inflation And Economic Growth In China

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Author : Jen-Te Hwang
language : en
Publisher:
Release Date : 2011

Inflation And Economic Growth In China written by Jen-Te Hwang and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011 with categories.

Using official provincial data for gross provincial product, consumer price index and other explanatory variables from 1986 to 2006, the present paper investigates the nonlinear effects of inflation on economic growth in China. The main finding of the study is that the inflation threshold effect is highly significant and robust in China. Above the 2.50 percent threshold, every 1-percentage point increase in the inflation rate impedes economic growth by 0.61 percent; below this threshold, every 1-percentage point increase in the inflation rate stimulates growth by 0.53 percent. This indicates that high inflation harms economic growth, whereas moderate inflation benefits growth. We suggest that China should maintain a moderate inflation rate for long-run growth.

Inflation Disinflation And Growth

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Author : Mr.Atish R. Ghosh
language : en
Publisher: International Monetary Fund
Release Date : 1998-05-01

Inflation Disinflation And Growth written by Mr.Atish R. Ghosh and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998-05-01 with Business & Economics categories.

Although few would doubt that very high inflation is bad for growth, there is much less agreement about moderate inflation’s effects. Using panel regressions and a nonlinear specification, this paper finds a statistically and economically significant negative relationship between inflation and growth. This relationship holds at all but the lowest inflation rates and is robust across various samples and specifications. The method of binary recursive trees identifies inflation as one the most important statistical determinants of growth. Finally, while there are short-run growth costs of disinflation, these are only relevant for the most severe disinflations, or when the initial inflation rate is well within the single-digit range.

Nonlinear Relation Between Inflation And Growth Panel Data Analysis

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Author : Anna Miller
language : en
Publisher:
Release Date : 2013-11

Nonlinear Relation Between Inflation And Growth Panel Data Analysis written by Anna Miller and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-11 with categories.

Master's Thesis from the year 2013 in the subject Economics - Economic Cycle and Growth, grade: 64%, University of Nottingham, language: English, abstract: This paper examines the inflation-growth interaction for different country groups with similar national incomes for the period 1970-2011. It could be confirmed that this relation is strictly nonlinear with a threshold level of inflation of 3% for high-income countries and 13% for low-income countries. Although this result is in line with previous empirical studies based on a similar data set, much smaller samples needed to be used to obtain these results. Inflation threshold levels are estimated using the iteration method and different panel-specific techniques. Strongly significant thresholds were yielded only when controlling for country-fixed effects. Policymakers can use the findings for high-income or industrialised countries as a guide for inflation targeting, however more precise analyses for less advanced countries are needed in order to be useful for monetary policy.

Relationship Between Inflation And Economic Growth

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Author : Vikesh Gokal
language : en
Publisher:
Release Date : 2004

Relationship Between Inflation And Economic Growth written by Vikesh Gokal and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Economic Development categories.

The Costs And Benefits Of Price Stability

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Author : Martin Feldstein
language : en
Publisher: University of Chicago Press
Release Date : 2007-12-01

The Costs And Benefits Of Price Stability written by Martin Feldstein and has been published by University of Chicago Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-12-01 with Business & Economics categories.

In recent years, the Federal Reserve and central banks worldwide have enjoyed remarkable success in their battle against inflation. The challenge now confronting the Fed and its counterparts is how to proceed in this newly benign economic environment: Should monetary policy seek to maintain a rate of low-level inflation or eliminate inflation altogether in an effort to attain full price stability? In a seminal article published in 1997, Martin Feldstein developed a framework for calculating the gains in economic welfare that might result from a move from a low level of inflation to full price stability. The present volume extends that analysis, focusing on the likely costs and benefits of achieving price stability not only in the United States, but in Germany, Spain, and the United Kingdom as well. The results show that even small changes in already low inflation rates can have a substantial impact on the economic performance of different countries, and that variations in national tax rules can affect the level of gain from disinflation.