PL EN


2008 | 4 | 447-466
Article title

Optimum Inflation Rate In Growth Modeling

Authors
Title variants
Languages of publication
PL
Abstracts
EN
Hypothesis concerning the optimum rate of inflation is verified in the article. Several theoretical studies dwelled on a similar subject, but very few have addressed the issue of empirical verification of this hypothesis within the framework of growth models.The author presents estimates of optimal inflation rate derived from a single equation econometric model that explains the growth of GNP. The model is based on a modified approach by C. Jones (1995) and uses panel data that cover 15 countries over a period of 1972-2005. The obtained results seem to corroborate the optimum inflation rate hypothesis. The identified relation indicates that the average increase in CPI index amounting to 3% - 4% allows for the maximum long term growth.
Keywords
Year
Issue
4
Pages
447-466
Physical description
Document type
ARTICLE
Contributors
  • P. Baranowski, Uniwersytet Lódzki, Katerda Ekonometrii, ul. Rewolucji 1905r. 41, 90-214 Lódz, Poland
References
Document Type
Publication order reference
Identifiers
CEJSH db identifier
09PLAAAA058617
YADDA identifier
bwmeta1.element.2f0bdcfd-a63e-3d8a-ac2a-bb1faeb445be
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