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Erscheinungsjahr: 
2009
Schriftenreihe/Nr.: 
SFB 649 Discussion Paper No. 2009,036
Verlag: 
Humboldt University of Berlin, Collaborative Research Center 649 - Economic Risk, Berlin
Zusammenfassung: 
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.
Schlagwörter: 
Inflation thresholds
inflation and growth
dynamic panel threshold model
JEL: 
E31
C23
O40
Dokumentart: 
Working Paper

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