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Does High Inflation Affect Growth in the Long and Short Run?
Open accessAbstract
This paper investigates the relationship between inflation and output in the context of an economy facing persistent high inflation. By analyzing the case of Brazil, we find that inflation does not impact real output in the long run, but that in the short run there exists a negative effect from inflation on output. These results support Sidrauski's (1967) superneutrality of money in the long run, but cast doubt on the short run implications of the model for separable utility functions in consumption and real money balances, as exposed by Fischer (1979). The results are more likely to support a class of utility functions in which real money balances and consumption are perfect complements.
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“The result supports the study of [59], however it opposes the findings of [56].”
From Dynamics of economic growth in ASEAN-5 countries: a panel ARDL approach (2024) · cites this paper as [59]
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References 45 · Cited by 170
Research works printed but not linked: 8
- Andrade J.P., 1994, Revista Brasileira de Economia, 48, 529
- Barro R.J., 1995, Bank of England Quarterly Bulletin, 35, 166
- Blanchard O.J., 1989, American Economic Review, 79, 655
- Briault C., 1995, Bank of England Quarterly Bulletin, 35, 33
- Fisher M., 1993, American Economic Review, 83, 402
- Sidrauski M., 1967, American Economic Review, 57, 534
- Silva M.L.F., 1996, Revista Brasileira de Economia, 50, 427
- Simonsen M.H., 1994, Proceedings of the 1994 Annual Meeting of the Brazilian Econometric Society (SBE), 197
Metadata
- Authors
- Faria, J. R., & Carneiro, F. G.
- Affiliations
- School of Finance and Economics University of Technology — Sydney — Australia
- Universidade Católica de Brasília (BR)
- Venue
- Journal of Applied Economics
- Publisher
- Informa UK Limited
- Published
- 2001-05
- Volume
- 4
- Issue
- 1
- Pages
- 89-105
- ISSN
- 1514-0326 (ISSN-L)
- 1667-6726
- OpenAlex
- W2117907446
- Cited by
- 170
- References
- 45
- Citations by year
- 2026: 2 · 2025: 7 · 2024: 12 · 2023: 11 · 2022: 9 · 2021: 14 · 2020: 8 · 2019: 6 · 2018: 8 · 2017: 12 · 2016: 12 · 2015: 8 · 2014: 8 · 2013: 7 · 2012: 12
- FWCI
- 3.20
- Type
- journal article
- Language
- en
- Open access
- bronze
- doi.org
- Locations
- Journal of Applied Economics (publishedVersion)
- RePEc: Research Papers in Economics (submittedVersion)
- SSRN Electronic Journal (submittedVersion)
- Topics
- Social Sciences › Economics, Econometrics and Finance › General Economics, Econometrics and Finance › Monetary Policy and Economic Impact
- Social Sciences › Economics, Econometrics and Finance › General Economics, Econometrics and Finance › Economic Theory and Policy
- Social Sciences › Economics, Econometrics and Finance › Economics and Econometrics › Economic theories and models
- Keywords
- inflation, economic growth, real output, utility functions, real money balances, consumption, Brazil
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- Faria, J. R., & Carneiro, F. G. (2001). Does High Inflation Affect Growth in the Long and Short Run? Journal of Applied Economics. https://doi.org/10.1080/15140326.2001.12040559
