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| Tekijä: | Sarel, M. |
| Otsikko: | Nonlinear effects of inflation on economic growth |
| Lehti: | Staff Papers
1996 : MAR, VOL. 43:1, p. 199-215 |
| Asiasana: | ECONOMIC GROWTH INFLATION MANAGEMENT |
| Kieli: | eng |
| Tiivistelmä: | 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. |
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