A1 - Bednarczyk, Jan L.
A1 - Brzozowska-Rup, Katarzyna
PB - Wydawnictwo Uniwersytetu Ekonomicznego we Wrocławiu
N2 - The article presents the results of estimating economic growth depending on the inflation levels in selected countries. The results were obtained by means of regression splines, in particular, cubic splines and a B-spline curve. The method applied helps to identify both the area of Non- Decreasing Economic Growth Rate of Inflation and inflation for which the rate of growth reaches its maximum. The calculations and graphic presentations demonstrate that maximum rates of economic growth were reached in inflation ranges of 5%-15% for Poland and 3%-16% for the G-20 countries studied. The data analysis leads to the conclusion that central bank margins for their accommodative monetary policies in the studied countries can be wider than it is implied by the doctrinal bases of the inflation targeting policy or its more restrictive version – strict inflation targeting.
L1 - http://www.dbc.wroc.pl/Content/61989/Bednarczyk_Brzozowska-Rup_Non_Decreasing_Economic_Growth_Rate_Of_Inflation.pdf
L2 - http://www.dbc.wroc.pl/Content/61989
KW - low inflation trap
KW - central banks inflation target
KW - regression splines
KW - pułapka niskiej inflacji
KW - cel inflacyjny banku centralnego
KW - regresja funkcji sklejanych
ER -
T1 - Non-Decreasing Economic Growth Rate of Inflation (NDEGRI) in light of empirical studies
UR - http://www.dbc.wroc.pl/dlibra/docmetadata?id=61989