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Volatilité de l'inflation et croissance économique

Author

Listed:
  • Olivier Bruno

    (GREDEG - Groupe de Recherche en Droit, Economie et Gestion - UNS - Université Nice Sophia Antipolis (1965 - 2019) - CNRS - Centre National de la Recherche Scientifique)

  • Patrick Musso

    (GREDEG - Groupe de Recherche en Droit, Economie et Gestion - UNS - Université Nice Sophia Antipolis (1965 - 2019) - CNRS - Centre National de la Recherche Scientifique)

Abstract

We propose a simple model of endogenous growth which puts forward the non linear impact of monetary policy on long run economic growth. Moreover, we show that, out of steady state, the volatility of inflation (expected and non-expected) decreases the rate of growth. In a stochastic framework, the precautionary saving induced by inflation volatility is indeed always overcome by an income effect due to the rise of the global expected return of saving. Theses results are supported by several empirical studies concerning the relationship between inflation and saving as well as those devoted to the influence of inflation volatility on economic growth

Suggested Citation

  • Olivier Bruno & Patrick Musso, 2000. "Volatilité de l'inflation et croissance économique," Post-Print halshs-00493843, HAL.
    • Handle: RePEc:hal:journl:halshs-00493843
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    Cited by:

    1. NGUENA, Christian L., 2012. "Objectif de Stabilité des Prix et Croissance Economique en Zone CEMAC: Une Approche en Données de Panel [Price Stability Objectives and Economic Growth: A Panel Data Econometrics Empirical Investig," MPRA Paper 49412, University Library of Munich, Germany, revised 09 Feb 2013.
    2. Henri Ngoa Tabi & Henri Atangana Ondoa, 2011. "Inflation, Money and Economic Growth in Cameroon," International Journal of Financial Research, International Journal of Financial Research, Sciedu Press, vol. 2(1), pages 45-56, March.
    3. NGUENA, Christian L., 2012. "Objectif de Lutte contre l’Inflation et Croissance Economique en Afrique: la Nécessité d’une Alternative [Fighting against Inflation and economic growth in Africa: A necessity of alternative]," MPRA Paper 49416, University Library of Munich, Germany, revised 19 Apr 2013.

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