Recent literature suggests that long-run averages of growth and inflation are only weakly correlated and that such correlation is not robust to the exclusion of observations of extreme inflation. Including time series panel data has improved matters, but an aggregate parametric approach remains inconclusive. The authors propose a nonparametric definition of high-inflation crises as "periods when annual inflation is above 40 percent." Excluding countries...
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INFORMATION
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1995/09/30
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Document de travail de recherche sur les politiques
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WPS1517
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1
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2010/07/01
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Inflation crises and long-run growth
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inflation