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dc.contributor.authorGillman, M.
dc.contributor.authorHarris, Mark
dc.contributor.authorMátyás, L.
dc.date.accessioned2020-11-26T07:32:03Z
dc.date.available2020-11-26T07:32:03Z
dc.date.issued2009
dc.identifier.urihttp://hdl.handle.net/20.500.11937/81818
dc.identifier.doi10.4324/9780203880180
dc.description.abstract

© 2009 selection and editorial matter Max Gillman, individual chapters the contributors. All rights reserved. The chapter presents a monetary model of endogenous growth and specifies an econometric model consistent with it. The economic model suggests a negative inflation-growth effect, and one that is stronger at lower levels of inflation. Empirical evaluation of the model is based on a large panel of OECD and APEC member countries over the years 1961-1997. The hypothesized negative inflation effect is found comprehensively for the OECD countries to be significant and, as in the theory, to increase marginally as the inflation rate falls. For APEC countries, the results from using instrumental variables also show significant evidence of a similar behavior. The nature of the inflation-growth profile and differences in this between the regions are interpreted with the credit production technology of the model in a way not possible with a standard cash-only economy.

dc.titleInflation and growth: Explaining a negative effect
dc.typeBook Chapter
dcterms.source.startPage254
dcterms.source.endPage273
dcterms.source.titleInflation Theory in Economics: Welfare, Velocity, Growth and Business Cycles
dcterms.source.isbn0203880188
dcterms.source.isbn9780203880180
dc.date.updated2020-11-26T07:32:03Z
curtin.departmentSchool of Economics, Finance and Property
curtin.accessStatusIn process
curtin.facultyFaculty of Business and Law
curtin.contributor.orcidHarris, Mark [0000-0002-1804-4357]
curtin.contributor.scopusauthoridHarris, Mark [35561581200] [55310794400]


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