Inflation–growth nexus: evidence from a pooled CCE multiple-regime panel smooth transition model

被引:0
|
作者
Tolga Omay
Reneé van Eyden
Rangan Gupta
机构
[1] Atılım University,Department of Economics
[2] University of Pretoria,Department of Economics
来源
Empirical Economics | 2018年 / 54卷
关键词
Inflation; Growth; Threshold effects; Multiple-regime panel smooth transition regression model; Cross-section dependence; Common correlated effects; C33; E31; O40;
D O I
暂无
中图分类号
学科分类号
摘要
This paper analyses the empirical relationship between inflation and growth using a panel data estimation technique, multiple-regime panel smooth transition regression, which takes into account the nonlinearities in the data. By using a panel data set for 10 countries in the Southern African Development Community permitting us to control for unobserved heterogeneity at both country and time levels, we find that a statistically significant negative relationship exists between inflation and growth for inflation rates above the critical threshold levels of 12 and 32% which are endogenously determined. Furthermore, we remedy the cross-section dependence with the common correlated effects estimator.
引用
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页码:913 / 944
页数:31
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