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| Author: | Ghoch, A. |
| Title: | Warning: inflation may be harmful to your growth |
| Journal: | Staff Papers
1998 : DEC, VOL. 45:4, p. 672-710 |
| Index terms: | GROWTH IMF INFLATION |
| Language: | eng |
| Abstract: | While few doubt that very high inflation is bad for growth, there is less agreement about the effects of moderate inflation. Using panel regressions and allowing for a nonlinear specification, this paper finds a statistically and economically significant negative relationship between inflation and growth, which holds robustly at all but the lowest inflation rates. A "decision-tree" technique identifies inflation as one of the most important determinants of growth. |
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