@techreport{NBERw6062,
 title = "Does Inflation Harm Economic Growth? Evidence for the OECD",
 author = "Javier Andres and Ignacio Hernando",
 institution = "National Bureau of Economic Research",
 type = "Working Paper",
 series = "Working Paper Series",
 number = "6062",
 year = "1997",
 month = "June",
 URL = "http://www.nber.org/papers/w6062",
 abstract = {The purpose of this paper is to study the correlation among growth and inflation at the OECD level, within the framework of the so-called convergence equations, and to discuss whether this correlation withstands a number of improvements in the empirical models, which try to address the most common criticisms of this evidence.  The main findings are the following: 1) the negative correlation among growth and inflation is not explained by the experience of high-inflation economies; 2) the estimated costs of inflation are still significant once country-specific effects are allowed for in the empirical model; and 3) the observed correlation cannot be dismissed on the grounds of reverse causation (from GDP to inflation).},
}