| Author: | Crosby, M. Otto, G. |
| Title: | Inflation and the capital stock |
| Journal: | Journal of Money, Credit and Banking
2000 : MAY, VOL. 32:2, p. 236-253 |
| Index terms: | Inflation Capital Time series Models |
| Language: | eng |
| Abstract: | This paper presents time series evidence on effects of inflation on the capital stock. Estimated is a structural VAR model for 34 countries. It is discovered that for the majority of the countries there is no statistically significant long-run effect of inflation on the capital stock. Overall, the empirical results support the view that the long-run level of the capital stock is invariant to permanent changes in the inflation rate. |
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