## IMF Staff Papers, Volume 48, No. 1

_IMF Staff Papers, November 8, 2001_

## Source details

**Canonical URL:** [IMF Staff Papers, Volume 48, No. 1](https://www.imf.org/en/publications/imf-staff-papers/issues/2016/12/30/imf-staff-papers-volume-48-no-14839)

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## Bibliographic details
- Authors: Robert P Flood
- Published: November 8, 2001
- Series: IMF Staff Papers
- Volume: 48
- DOI: https://doi.org/10.5089/9781451974614.024

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### Overview
- 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

### Key findings
- Estimated threshold level of inflation above which inflation significantly slows growth:
  - "1-3 percent" for industrial countries
  - "11-12 percent" for developing countries
- For inflation rates above the threshold level, the relationship between inflation and growth is negative and significant.

### Robustness and sensitivity
- The negative and significant relationship for inflation above the threshold is robust to:
  - the estimation method
  - perturbations in the location of the threshold level
  - the exclusion of high-inflation observations
  - data frequency
  - alternative specifications

### Data, methods, and scope
- 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

### Subjects and keywords
- 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

### Publication and identifiers
- DOI: https://doi.org/10.5089/9781451974614.024
- Stock No: SPIEA0012001
- ISBN: 9781451974614
- ISSN: 1020-7635

*IMF Staff Papers, Volume 48, No. 1 — Robert P Flood, November 8, 2001.*

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_Source: https://www.imf.org/en/publications/imf-staff-papers/issues/2016/12/30/imf-staff-papers-volume-48-no-14839_