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- W2053760223 abstract "The effects of inflation on growth are shown to change substantially as the inflation rate rises. Moreover, the nonlinearities are quite different for industrial economies than for developing countries. Whereas it is often assumed that inflation does not significantly hurt growth in developing countries until the 20–40% range, we find that the threshold falls within single digits. Marginal growth costs for developing countries then decline significantly above 50% inflation. Failure to account for nonlinearity biases downward the estimated effects of inflation on growth. Mixing industrial and developing economies together also produces unreliable results." @default.
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- W2053760223 date "2004-09-01" @default.
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- W2053760223 title "When does inflation hurt economic growth? Different nonlinearities for different economies" @default.
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- W2053760223 doi "https://doi.org/10.1016/j.jmacro.2003.03.005" @default.
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