Output and inflation in the long run

@inproceedings{Ericsson2001OutputAI,
  title={Output and inflation in the long run},
  author={Neil R. Ericsson and John S. Irons and Ralph W. Tryon},
  year={2001}
}
Cross-country regressions explaining output growth often obtain a negative effect from inflation. However, that result is not robust, due to the selection of countries in sample, temporal aggregation, and omission of consequential variables in levels. This paper demonstrates some implications of these mis-specifications, both analytically and empirically. In particular, for most G-7 countries, annual time series of inflation and the log-level of output are cointegrated, thus rejecting the… CONTINUE READING

Citations

Publications citing this paper.
SHOWING 1-10 OF 48 CITATIONS

Testing for non-causality by using the Autoregressive Metric

VIEW 4 EXCERPTS
CITES RESULTS, BACKGROUND & METHODS
HIGHLY INFLUENCED