Arbeitspapier
The effect of inflation on growth: Evidence from a panel of transition countries
The paper examines the effect of inflation on growth in transition countries. It presents panel data evidence for 13 transition countries over the 1990-2003 period; it uses a fixed effects, full-information maximum likelihood, panel approach to account for possible bias from correlations among the unobserved effects and the observed country heterogeniety. The results find a strong, robust, negative effect on growth, and one that declines in magnitude as the inflation rate increases. These results include a role for a normalized money demand, by itself and as part of a nonlinearity in the inflation-growth effect. And these results derive from both a baseline single equation model and one that is then expanded into a three equation simultaneous system. This allows for possible simultaneity bias in the baseline model.
- Sprache
-
Englisch
- Erschienen in
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Series: Cardiff Economics Working Papers ; No. E2008/25
- Klassifikation
-
Wirtschaft
Single Equation Models; Single Variables: Panel Data Models; Spatio-temporal Models
Financial Markets and the Macroeconomy
Economic Development: Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
Monetary Growth Models
- Thema
-
growth
transition
panel data
inflation
money demand
endogeneity
Geldpolitik
Inflation
Wirtschaftswachstum
Panel
Transformationsstaaten
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Gillman, Max
Harris, Mark N.
- Ereignis
-
Veröffentlichung
- (wer)
-
Cardiff University, Cardiff Business School
- (wo)
-
Cardiff
- (wann)
-
2008
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:42 MEZ
Datenpartner
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Objekttyp
- Arbeitspapier
Beteiligte
- Gillman, Max
- Harris, Mark N.
- Cardiff University, Cardiff Business School
Entstanden
- 2008