Working Paper

Nonparametric and Semiparametric Evidence on the Long-Run Effects of Inflation on Growth

Kiel Working Papers, 1286

In this paper we adopt both a nonparametric and a semi-parametric 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.


Stefano Schiavo
Andrea Vaona


Publication Date
JEL Classification
E31, O49, C14