{
  "title": "IMF Staff Papers, Volume 48, No. 1",
  "publication": "IMF Staff Papers, November 8, 2001",
  "sourceUrl": "https://www.imf.org/en/publications/imf-staff-papers/issues/2016/12/30/imf-staff-papers-volume-48-no-14839",
  "canonical": "https://www.imf.org/en/publications/imf-staff-papers/issues/2016/12/30/imf-staff-papers-volume-48-no-14839",
  "overlayPath": "/en/publications/imf-staff-papers/issues/2016/12/30/imf-staff-papers-volume-48-no-14839/index.md",
  "summary": "This paper re-examines the issue of the existence of threshold effects in the relationship between inflation and growth, using new econometric techniques that provide appropriate procedures for estimation and inference.",
  "sections": [
    {
      "heading": "Overview",
      "content": "- Paper re-examines the existence of threshold effects in the relationship between inflation and growth using new econometric techniques that provide appropriate procedures for estimation and inference.\n- Author: Robert P Flood\n- Publication date: November 8, 2001"
    },
    {
      "heading": "Key findings",
      "content": "- Estimated threshold level of inflation above which inflation significantly slows growth:\n  - \"1-3 percent\" for industrial countries\n  - \"11-12 percent\" for developing countries\n- For inflation rates above the threshold level, the relationship between inflation and growth is negative and significant."
    },
    {
      "heading": "Robustness and sensitivity",
      "content": "- The negative and significant relationship for inflation above the threshold is robust to:\n  - the estimation method\n  - perturbations in the location of the threshold level\n  - the exclusion of high-inflation observations\n  - data frequency\n  - alternative specifications"
    },
    {
      "heading": "Data, methods, and scope",
      "content": "- Employs new econometric techniques for estimation and inference of threshold effects in the inflation–growth relationship.\n- Pages: 232\n- Volume: 2001\n- Issue: 003\n- Series: IMF Staff Papers No 2001/003"
    },
    {
      "heading": "Subjects and keywords",
      "content": "- Subject: Bank credit, Banking, Financial institutions, Foreign exchange, Inflation, Loans, Money, Prices, Tariffs, Taxes\n- Keywords: Africa, Asia and Pacific, Bank credit, Central and Eastern Europe, Eastern Europe, ERBS literature, ERBS syndrome, Inflation, Loans, SP, Sub-Saharan Africa, Tariffs, TFP growth, threshold estimate, trade liberalization"
    },
    {
      "heading": "Publication and identifiers",
      "content": "- DOI: https://doi.org/10.5089/9781451974614.024\n- Stock No: SPIEA0012001\n- ISBN: 9781451974614\n- ISSN: 1020-7635\n\nIMF Staff Papers, Volume 48, No. 1 — Robert P Flood, November 8, 2001.\n\n---\n\n\nSource: https://www.imf.org/en/publications/imf-staff-papers/issues/2016/12/30/imf-staff-papers-volume-48-no-14839"
    }
  ],
  "bullets": [
    "[Markdown version](/en/publications/imf-staff-papers/issues/2016/12/30/imf-staff-papers-volume-48-no-14839/index.md)",
    "[Structured JSON version](/en/publications/imf-staff-papers/issues/2016/12/30/imf-staff-papers-volume-48-no-14839/index.json)",
    "[Bundle manifest](/en/publications/imf-staff-papers/issues/2016/12/30/imf-staff-papers-volume-48-no-14839/bundle-manifest.json)",
    "Authors: Robert P Flood",
    "Published: November 8, 2001",
    "Series: IMF Staff Papers",
    "Volume: 48",
    "DOI: https://doi.org/10.5089/9781451974614.024",
    "Paper re-examines the existence of threshold effects in the relationship between inflation and growth using new econometric techniques that provide appropriate procedures for estimation and inference.",
    "Author: Robert P Flood",
    "Publication date: November 8, 2001",
    "Estimated threshold level of inflation above which inflation significantly slows growth:",
    "For inflation rates above the threshold level, the relationship between inflation and growth is negative and significant.",
    "The negative and significant relationship for inflation above the threshold is robust to:",
    "Employs new econometric techniques for estimation and inference of threshold effects in the inflation–growth relationship.",
    "Pages: 232",
    "Volume: 2001",
    "Issue: 003",
    "Series: IMF Staff Papers No 2001/003",
    "Subject: Bank credit, Banking, Financial institutions, Foreign exchange, Inflation, Loans, Money, Prices, Tariffs, Taxes",
    "Keywords: Africa, Asia and Pacific, Bank credit, Central and Eastern Europe, Eastern Europe, ERBS literature, ERBS syndrome, Inflation, Loans, SP, Sub-Saharan Africa, Tariffs, TFP growth, threshold estimate, trade liberalization",
    "DOI: https://doi.org/10.5089/9781451974614.024",
    "Stock No: SPIEA0012001",
    "ISBN: 9781451974614",
    "ISSN: 1020-7635"
  ],
  "alternates": {
    "markdown": "/en/publications/imf-staff-papers/issues/2016/12/30/imf-staff-papers-volume-48-no-14839/index.md",
    "json": "/en/publications/imf-staff-papers/issues/2016/12/30/imf-staff-papers-volume-48-no-14839/index.json",
    "bundleManifest": "/en/publications/imf-staff-papers/issues/2016/12/30/imf-staff-papers-volume-48-no-14839/bundle-manifest.json"
  },
  "generatedAtUtc": "2026-09-21T15:05:05.585Z"
}