Monetary policy, banking, and growth
AbstractThere is ample empirical evidence suggesting that countries with high inflation tend to grow slower than countries with low inflation. Based on the regression evidence, the inflation-rate effect is fairly large; on average, per-capita real GDP grows between $71 and $76 percentage points slower in a country in which the average inflation rate is 10 percent as compared with a country in which inflation is 0 percent. The purpose of this paper is to determine whether a model economy that is reasonably calibrated can account for such large inflation-rate effects. The answer is yes. Copyright 1998 by Oxford University Press.
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Bibliographic InfoPaper provided by Federal Reserve Bank of Dallas in its series Working Papers with number 9515.
Date of creation: 1995
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- Rangan Gupta, 2005.
"Tax Evasion and Financial Repression,"
2005-34, University of Connecticut, Department of Economics, revised Jun 2007.
- Robert Amano & Tom Carter & Kevin Moran, 2012.
"Inflation and Growth: a New Keynesian Perspective,"
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- Shouyong Shi & Mariana Rojas Breu & Aleksander Berentsen, 2009. "Liquidity and Growth," 2009 Meeting Papers 590, Society for Economic Dynamics.
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