@techreport{Gillman2008effect,
abstract = {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.},
address = {Cardiff},
author = {Max Gillman and Mark N. Harris},
copyright = {http://www.econstor.eu/dspace/Nutzungsbedingungen},
keywords = {C23; E44; O16; O42; 330; growth; transition; panel data; inflation; money demand; endogeneity; Geldpolitik; Inflation; Wirtschaftswachstum; Panel; Transformationsstaaten},
language = {eng},
number = {E2008/25},
publisher = {Cardiff Univ, Cardiff Business School, Economics Section},
title = {The effect of inflation on growth: Evidence from a panel of transition countries},
type = {Cardiff Economics Working Papers},
url = {http://hdl.handle.net/10419/65809},
year = {2008}
}
