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Growth is not correlated with Inflation


  • W. Stanners

    (Over, Cambridge, UK)


A paper by W. R. J. Alexander concluded, on the basis of econometric analysis involving variables additional to the two principal ones, that a decrease in inflation rate would result in a significant gain in the growth rate of national output. This note shows that this verbal conclusion does not follow from the results of the algebraic analysis which precedes it, and more generally, that time-series analysis, with or without additional variables, is unlikely to be able to contradict the conclusion of simple two-parameter cross-section correlation studies - namely that the growth rates of countries are not correlated with their inflation rates.

Suggested Citation

  • W. Stanners, 1998. "Growth is not correlated with Inflation," Macroeconomics 9803006, EconWPA.
  • Handle: RePEc:wpa:wuwpma:9803006 Note: Type of Document - Word document; prepared on IBM PC; to print on HP 540; pages: 9 ; figures: None. None

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    References listed on IDEAS

    1. William Roberds, 1997. "What's really new about the new forms of retail payment?," Economic Review, Federal Reserve Bank of Atlanta, issue Q 1, pages 32-45.
    2. Barbara A. Good, 1997. "Electronic money," Working Paper 9716, Federal Reserve Bank of Cleveland.
    3. J. David Germany & John E. Morton, 1985. "Financial innovation and deregulation in foreign industrial countries," Federal Reserve Bulletin, Board of Governors of the Federal Reserve System (U.S.), issue Oct, pages 743-753.
    4. Stuber, Gerald, 1996. "The Electronic Purse: An Overview of Recent Developments and Policy Issues," Technical Reports 74, Bank of Canada.
    5. John P. Caskey & Gordon H. Sellon, 1994. "Is the debit card revolution finally here?," Economic Review, Federal Reserve Bank of Kansas City, issue Q IV, pages 79-95.
    6. Paul W. Bauer, 1995. "Making payments in cyberspace," Economic Commentary, Federal Reserve Bank of Cleveland, issue Oct.
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    More about this item


    growth inflation hyperinflation correlation cause;

    JEL classification:

    • E - Macroeconomics and Monetary Economics


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