In this paper we adopt both a nonparametric and a serniparametric IV estimator to show that the relationship between inflation and output growth is non-linear and that there exists a threshold level below which inflation has no effects on growth.
Nonparametric and semiparametric evidence on the long-run effects of inflation on growth
VAONA, Andrea;
2007-01-01
Abstract
In this paper we adopt both a nonparametric and a serniparametric IV estimator to show that the relationship between inflation and output growth is non-linear and that there exists a threshold level below which inflation has no effects on growth.
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