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Sonderforschungsbereich 649: Ökonomisches Risiko, Humboldt-Universität Berlin >
SFB 649 Discussion Papers, HU Berlin >
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http://hdl.handle.net/10419/39331
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| Title: | | Inflation and growth: New evidence from a dynamic panel threshold analysis  |
| Authors: | | Kremer, Stephanie Bick, Alexander Nautz, Dieter |
| Issue Date: | | 2009 |
| Series/Report no.: | | SFB 649 discussion paper 2009,036 |
| Abstract: | | We introduce a dynamic panel threshold model to shed new light on the impact of inflation on long-term economic growth. The empirical analysis is based on a large panel-data set including 124 countries during the period from 1950 to 2004. For industrialized countries, our results confirm the inflation targets of about 2% set by many central banks. For non-industrialized countries, we estimate that inflation hampers growth if it exceeds 17%. Below this threshold, however, the impact of inflation on growth remains insignificant. Therefore, our results do not support growth-enhancing effects of inflation in developing countries. |
| Subjects: | | Inflation thresholds inflation and growth dynamic panel threshold model |
| JEL: | | E31 C23 O40 |
| Document Type: | | Working Paper |
| Appears in Collections: | | SFB 649 Discussion Papers, HU Berlin
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