On the impact of inflation on output growth: Does the level of inflation matter?

被引：94

作者：

Lopez-Villavicencio, Antonia ^{[3
]}

Mignon, Valerie ^{[1
,2
]}

机构：

[1] Univ Paris Ouest, Econ CNRS, Paris, France

[2] CEPII, Paris, France

[3] Univ Paris N, CEPN CNRS, Paris, France

来源：

JOURNAL OF MACROECONOMICS | 2011年 / 33卷 / 03期

关键词：

Inflation; Economic growth; Non-linearity; PSTR; ECONOMIC-GROWTH; PUBLIC-FINANCE; MONEY; MODELS;

D O I：

10.1016/j.jmacro.2011.02.003

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper investigates the growth effects of inflation on a wide sample of countries, including both industrialized and emerging economies. Relying upon the estimation of smooth transition and dynamic GMM models for panel data, our findings offer strong evidence that inflation non-linearly impacts economic growth. More specifically, there exists a threshold beyond which inflation exerts a negative effect on growth, and below which it is growth enhancing for advanced countries. (C) 2011 Elsevier Inc. All rights reserved.

引用

页码：455 / 464

页数：10

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