Access

You are not currently logged in.

Access your personal account or get JSTOR access through your library or other institution:

login

Log in to your personal account or through your institution.

If You Use a Screen Reader

This content is available through Read Online (Free) program, which relies on page scans. Since scans are not currently available to screen readers, please contact JSTOR User Support for access. We'll provide a PDF copy for your screen reader.

Warning: Inflation May Be Harmful to Your Growth

Atish Ghosh and Steven Phillips
Staff Papers (International Monetary Fund)
Vol. 45, No. 4 (Dec., 1998), pp. 672-710
Stable URL: http://www.jstor.org/stable/3867589
Page Count: 39
  • Read Online (Free)
  • Download ($34.00)
  • Subscribe ($19.50)
  • Cite this Item
Since scans are not currently available to screen readers, please contact JSTOR User Support for access. We'll provide a PDF copy for your screen reader.
Warning: Inflation May Be Harmful to Your Growth
Preview not available

Abstract

While few doubt that very high inflation is bad for growth, there is less agreement about the effects of moderate inflation. Using panel regressions and allowing for a nonlinear specification, this paper finds a statistically and economically significant negative relationship between inflation and growth, which holds robustly at all but the lowest inflation rates. A "decision-tree" technique identifies inflation as one of the most important determinants of growth. Finally, short-run growth costs of disinflation are only relevant for the most severe disinflations, or when the initial inflation rate is well within the single-digit range.

Page Thumbnails

  • Thumbnail: Page 
672
    672
  • Thumbnail: Page 
673
    673
  • Thumbnail: Page 
674
    674
  • Thumbnail: Page 
675
    675
  • Thumbnail: Page 
676
    676
  • Thumbnail: Page 
677
    677
  • Thumbnail: Page 
678
    678
  • Thumbnail: Page 
679
    679
  • Thumbnail: Page 
680
    680
  • Thumbnail: Page 
681
    681
  • Thumbnail: Page 
682
    682
  • Thumbnail: Page 
683
    683
  • Thumbnail: Page 
684
    684
  • Thumbnail: Page 
685
    685
  • Thumbnail: Page 
686
    686
  • Thumbnail: Page 
687
    687
  • Thumbnail: Page 
688
    688
  • Thumbnail: Page 
689
    689
  • Thumbnail: Page 
690
    690
  • Thumbnail: Page 
691
    691
  • Thumbnail: Page 
692
    692
  • Thumbnail: Page 
693
    693
  • Thumbnail: Page 
694
    694
  • Thumbnail: Page 
695
    695
  • Thumbnail: Page 
696
    696
  • Thumbnail: Page 
697
    697
  • Thumbnail: Page 
698
    698
  • Thumbnail: Page 
699
    699
  • Thumbnail: Page 
700
    700
  • Thumbnail: Page 
701
    701
  • Thumbnail: Page 
702
    702
  • Thumbnail: Page 
703
    703
  • Thumbnail: Page 
704
    704
  • Thumbnail: Page 
705
    705
  • Thumbnail: Page 
706
    706
  • Thumbnail: Page 
707
    707
  • Thumbnail: Page 
708
    708
  • Thumbnail: Page 
709
    709
  • Thumbnail: Page 
710
    710