Measuring the relationship between inflation and economic growth: evidence from selected European countries
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Measuring the relationship between inflation and economic growth: evidence from selected European countriesData
2016Cita bibliográfica
5. Mourelle, E.; Stankovičová, I. (2016): Measuring the relationship between inflation and economic growth: Evidence from selected European countries, The 10th International Days of Statistics and Economics – Conference Proceedings, pp. 1292-1301
Resumo
[Abstract]: The relationship between inflation and economic growth is crucial in any economy; for this
reason, it has received wide attention in theoretical and empirical works. The coexistence of
high economic growth together with low inflation becomes an essential objective for
policymakers. It is particularly interesting to study this relationship in economies converging
to the most developed ones, as is the case of Central and Eastern European countries with
respect to core economies in the European Union. This paper examines the relationship
between inflation and economic growth for six European countries in 1991-2015. This work
has a twofold objective. Firstly, to unveil the existence of the relationship in these countries;
secondly, to detect a potential different behaviour regarding the impact of inflation on
economic growth in these two groups of countries, as they have their idiosyncrasy. The results
point to a long-run positive relationship in all countries; regarding the short-run dynamics of
economic growth, it is proven to be nonlinear. Following the results, the similarities between
the two sets of countries are found out and the policy implications are presented.
Palabras chave
Inflation
Economic growth
Convergence
Cointegration
Nonlinearities
Economic growth
Convergence
Cointegration
Nonlinearities
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ISBN
978-80-87990-10-0