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Author : Vikesh Gokal,Subrina Hanif
Publisher : Unknown
Page : 58 pages
File Size : 49,9 Mb
Release : 2004
Category : Economic Development
ISBN : UOM:39015060820100
Author : Michael D. Bordo,Athanasios Orphanides
Publisher : University of Chicago Press
Page : 545 pages
File Size : 50,5 Mb
Release : 2013-06-28
Category : Business & Economics
ISBN : 9780226066950
Controlling inflation is among the most important objectives of economic policy. By maintaining price stability, policy makers are able to reduce uncertainty, improve price-monitoring mechanisms, and facilitate more efficient planning and allocation of resources, thereby raising productivity. This volume focuses on understanding the causes of the Great Inflation of the 1970s and ’80s, which saw rising inflation in many nations, and which propelled interest rates across the developing world into the double digits. In the decades since, the immediate cause of the period’s rise in inflation has been the subject of considerable debate. Among the areas of contention are the role of monetary policy in driving inflation and the implications this had both for policy design and for evaluating the performance of those who set the policy. Here, contributors map monetary policy from the 1960s to the present, shedding light on the ways in which the lessons of the Great Inflation were absorbed and applied to today’s global and increasingly complex economic environment.
Author : Javier Andrés,Ignacio Hernando
Publisher : Unknown
Page : 52 pages
File Size : 46,5 Mb
Release : 1997
Category : Economic development
ISBN : IND:30000119800716
The purpose of this paper is to study the correlation among growth and inflation at the OECD level, within the framework of the so-called convergence equations, and to discuss whether this correlation withstands a number of improvements in the empirical models, which try to address the most common criticisms of this evidence. The main findings are the following: 1) the negative correlation among growth and inflation is not explained by the experience of high-inflation economies; 2) the estimated costs of inflation are still significant once country-specific effects are allowed for in the empirical model; and 3) the observed correlation cannot be dismissed on the grounds of reverse causation (from GDP to inflation).
Author : Jose De Gregorio
Publisher : Unknown
Page : 54 pages
File Size : 55,7 Mb
Release : 1996
Category : Bancos centrales
ISBN : UCSD:31822021343884
Author : Mukesh Kumar Solanki,Vinod Sen
Publisher : Allied Publishers
Page : 134 pages
File Size : 45,6 Mb
Release : 2015-02-11
Category : Economic development
ISBN : 9788184249767
The book “Public Expenditure, Economic Growth and Inflation” addresses the most relevant issue of inflation in Indian economy. It makes an interesting reading as it attempts to establish the relationship among three macro-economic indicators, i.e., public expenditure, economic growth and inflation. The book gives an overview of the increasing public expenditure and its composition throughout the years after independence. Based on the secondary data the study makes a sincere effort to establish the possible relationship between public expenditure, inflation and economic growth. The book finds out that the Wagner law of increasing state activity is applicable in India both in absolute and relative terms. Economic Growth and public expenditure are positively correlated. Economic growth and inflation are inversely related. As public expenditure is motivated by maximization of social welfare, reduction in public expenditure means to sacrifice the social welfare objective.
Author : Mr.Kamiar Mohaddes,Mr.Mehdi Raissi
Publisher : International Monetary Fund
Page : 19 pages
File Size : 40,5 Mb
Release : 2014-12-15
Category : Business & Economics
ISBN : 9781484336410
This paper examines the long-run relationship between consumer price index industrial workers (CPI-IW) inflation and GDP growth in India. We collect data on a sample of 14 Indian states over the period 1989–2013, and use the cross-sectionally augmented distributed lag (CSDL) approach of Chudik et al. (2013) as well as the standard panel ARDL method for estimation—to account for cross-state heterogeneity and dependence, dynamics and feedback effects. Our findings suggest that, on average, there is a negative long-run relationship between inflation and economic growth in India. We also find statistically-significant inflation-growth threshold effects in the case of states with persistently-elevated inflation rates of above 5.5 percent. This suggest the need for the Reserve Bank of India to balance the short-term growthinflation trade-off, in light of the long-term negative effects on growth of persistently-high inflation.
Author : Stephanie Kremer,Alexander Bick,Dieter Nautz
Publisher : Unknown
Page : 36 pages
File Size : 41,8 Mb
Release : 2010
Category : Electronic
ISBN : 394124003X
Author : Mr.Michael Sarel
Publisher : International Monetary Fund
Page : 26 pages
File Size : 44,7 Mb
Release : 1995-06-01
Category : Business & Economics
ISBN : 9781451968316
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. The paper also demonstrates that when the existence of the structural break is ignored, the estimated effect of inflation on growth is biased by a factor of three.
Author : Mr.Raphael A. Espinoza,Ananthakrishnan Prasad,Mr.Gene L. Leon
Publisher : International Monetary Fund
Page : 24 pages
File Size : 43,8 Mb
Release : 2010-03-01
Category : Business & Economics
ISBN : 9781451982190
Motivated by the global inflation episode of 2007-08 and concern that high levels of inflation could undermine growth, this paper uses a panel of 165 countries and data for 1960-2007 to revisit the nexus between inflation and growth. We use a smooth transition model to investigate the speed at which inflation beyond a threshold becomes harmful to growth, an important consideration in the policy response to rising inflation as the world economy recovers. We estimate that for all country groups (except for advanced countries) inflation above a threshold of about 10 percent quickly becomes harmful to growth, suggesting the need for a prompt policy response to inflation at or above the relevant threshold. For the advanced economies, the threshold is much lower. For oil exporting countries, the estimates are less robust, possibly reflecting heterogeneity among oil producers, but the effect of higher inflation for oil producers is found to be stronger.
Author : Jose De Gregorio
Publisher : Unknown
Page : 20 pages
File Size : 47,8 Mb
Release : 1991
Category : Economic development
ISBN : UCSD:31822007629215
Author : Deseke Kebede
Publisher : Grin Publishing
Page : 68 pages
File Size : 53,6 Mb
Release : 2017-12-18
Category : Electronic
ISBN : 3668582440
Research Paper (undergraduate) from the year 2017 in the subject Economics - Economic Cycle and Growth, grade: 1, language: English, abstract: The purpose of the study is to examine the relationship between inflation and economic growth in Ethiopia over the period of 1991/92- 2014/15 by using data at quarter base. The study was employed Johansen method of co-integration and vector error correction model and a technique of conditional least square. The result shows that both in long-run and short-run the relationship between inflation and economic growth is positive. Despite to this, the granger causality test tells us bi- directional causation between these two variables. The result also revealed that threshold level of inflation beyond on which inflation negatively affects economic growth of Ethiopia is 5 percent. Therefore, co-ordination between macro- economic policy makers is vital and should have to raise their hands and put their eyes on measures that keep down inflation below 5 percent to have sustainable economic growth in the country.
Author : Micah Effiong
Publisher : GRIN Verlag
Page : 24 pages
File Size : 43,8 Mb
Release : 2020-03-25
Category : Business & Economics
ISBN : 9783346137623
Research Paper (undergraduate) from the year 2016 in the subject Economics - Economic Cycle and Growth, grade: A, , language: English, abstract: The study was conducted to evaluate the impact of inflation on economic growth in the context of an emerging market using empirical evidence from Nigeria. Using time series data spanning forty one years (1970-2011) which was obtained from the Central Bank of Nigeria (CBN) statistical bulletin volume 22, and Central Bank of Nigeria official website, the nature of the relationship existing between the focus variables - economic growth (proxied by real Gross Domestic Product, GDP) and inflation rate was explored. The Augmented Dickey Fuller (ADF) and Philip-Perron (PP) tests were used to test for the stationary of the variables while the granger causality test was employed to ascertain the direction of influence between inflation and economic growth in Nigeria. The follow research questions guided this study: What is the trend of inflation in Nigeria? Why have all the policies used unable to reduce inflation rate to an acceptable level? What is the impact of inflation of Nigerian economic growth? Inflation growth has been the macro-economic problem in Nigeria that seems to be intractable over the years; Nigeria government has adopted various measures (both monetary and fiscal policies) to curb or reduce inflation growth to an acceptable level but all these policies seem to have no effects. This gave rise to the following research questions.
Author : Max Gillman,Michal Kejak,Akos Valentinyi
Publisher : Unknown
Page : 0 pages
File Size : 52,8 Mb
Release : 2010
Category : Electronic
ISBN : OCLC:1376419584
The empirical evidence suggests that there is a significant, negative relationship between inflation and economic growth. Conventional monetary growth models, however, predict a significantly smaller growth effect. This paper proposes a monetary growth model with an explicit credit service sector to explain the observed magnitude. Since credit services are assumed costly to produce, the consumers equate the opportunity cost of holding money with the marginal cost of credit. Therefore the technology of the financial sector influences the velocity of money, and consequently, how inflation affects leisure, the time spent accumulating human capital, and the growth rate of output. The calibration shows that the model generates an inflation-growth effect whose magnitude falls in the range found by the empirical studies. Moreover, in contrast to previous works, we are also able to explain an inflation-growth effect that becomes increasingly weak as the inflation rate rises, as the evidence seems to suggest. Analysis of the welfare cost of inflation further illuminates the inflation-growth effect and how the model compares to the literature.
Author : Moges Endalamaw Yigermal
Publisher : GRIN Verlag
Page : 23 pages
File Size : 43,9 Mb
Release : 2018-03-08
Category : Business & Economics
ISBN : 9783668655973
Case Study from the year 2016 in the subject Economics - Monetary theory and policy, , language: English, abstract: Since the main objective of the paper is to test the existence of causality relationship between the three macroeconomic variables, namely real GDP, price level (CPI) and M2 money supply (MS), analysis has been made there by employing 40 years of data (data from 1975-2014). VAR Granger causality test has been made to verify the objective of the paper. The VAR Granger causality test result suggesting the existence of strong and significant correlation between the three variable s pairwise. The direction of causation is found to be a uni- directional causation between money supply and inflation, real GDP and Money supply and between real GDP and inflation and the causation runs from money supply to inflation, real GDP to Money supply and real GDP to inflation respectively. From the causation we observed that money supply has relationship with level of price and economic growth (real GDP). Basically targeting monetary expansion has a multiple role to boost economic growth and control the level of inflation.
Author : Max Gillman,Michal Kejak,Ákos Valentinyi
Publisher : Unknown
Page : 70 pages
File Size : 45,9 Mb
Release : 1999
Category : Consumption (Economics)
ISBN : STANFORD:36105028775273