Inflation and Output Volatility: Evidence from International Historical Data
Copyright policy )Inflation and Output Volatility: Evidence from International Historical Data
Abstract This study adopts a historical perspective to investigate variations in output volatility within and across world economies. The analysis uses annual data for 37 OECD and non-OECD countries covering the last two centuries. We focus on the relationship between inflation and output volatility. The results of a panel analysis show a positive effect of inflation on output volatility. This finding is consistent with the view that low inflation has a stabilizing effect on output volatility over the long term.
output volatility, economic disasters, output volatility ; inflation ; economic disasters ; monetary policy ; international historical evidence, monetary policy, inflation, international historical evidence
output volatility, economic disasters, output volatility ; inflation ; economic disasters ; monetary policy ; international historical evidence, monetary policy, inflation, international historical evidence
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