The author reviews the theory and evidence on inflation and growth and provides additional empirical evidence for a large cross-section of countries. The evidence, he reports, suggests a robust negative relationship between inflation and growth. He argues that inflation limits growth mainly by reducing the efficiency of investment rather than its level. But this finding is difficult to explain using traditional theories that rely on the effects of...
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ПОДРОБНАЯ ИНФОРМАЦИЯ
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1996/02/29
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Рабочий документ в рамках исследования вопросов политики
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WPS1575
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1
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1
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2010/07/01
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Inflation, growth, and central banks : theory and evidence
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inflation