The steady inflation rate of economic growth
Dungey, Mardi; Pitchford, John
Description
This paper considers the existence of a path of GDP corresponding to steady inflation in the prices of domestic goods. We estimate the steady inflation rate of growth, denoted the SIRG, at a little over 4 per cent per annum in the post-float period. Changes in inflation are modelled as a nonlinear combination of growth and changes in import price inflation. Because import price inflation is more volatile than overall inflation, policy that targets overall inflation may require growth to...[Show more]
Collections | ANU Centre for Economic Policy Research (CEPR) |
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Type: | Working/Technical Paper |
URI: | http://hdl.handle.net/1885/40220 |
Access Rights: | Open Access |
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File | Description | Size | Format | Image |
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DP414.pdf | 99.66 kB | Adobe PDF |
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