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Inflation and Growth: Stories Short and Tall
Author(s) -
Temple Jonathan
Publication year - 2000
Publication title -
journal of economic surveys
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.657
H-Index - 92
eISSN - 1467-6419
pISSN - 0950-0804
DOI - 10.1111/1467-6419.00116
Subject(s) - economics , inflation (cosmology) , macroeconomics , keynesian economics , empirical evidence , monetary economics , physics , theoretical physics , philosophy , epistemology
This paper reviews the stories that economists tell about the growth effects of inflation. Informal accounts are common, but there are few models that get to grips with the effects that are probably central. Partly as a result of this, and partly as a result of many econometric problems, much of the empirical evidence remains unconvincing. The paper assesses the various contributions, and suggests possible improvements.