English, Article, Journal or magazine article edition: Inflation and human capital formation : theory and panel data evidence F. HEYLEN; A. SCHOLLAERT; G. EVERAERT; ...

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Bookmark: http://trove.nla.gov.au/version/15510
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Inflation and human capital formation : theory and panel data evidence
Author
  • F. HEYLEN
  • A. SCHOLLAERT
  • G. EVERAERT
  • L. POZZI
Physical Description
  • preprint
Notes
  • Existing monetary growth theories predict either negative or neutral effects from inflation on human capital. In this paper we develop a simple alternative model, which can generate positive effects. Our empirical analysis for 93 countries in 1975-1995 tends to confirm these positive effects. Using recent GMM panel data procedures, we find that rising inflation basically stimulates human capital. A robust negative effect can be observed only at extremely high inflation rates. A representative threshold may be 100%. For inflation rates below 15%, the effect of rising inflation seems insignificant. The latter result can also be rationalized from our model.
  • Human capital, education, inflation, monetary growth models, panel data
  • RePEc:rug:rugwps:03/​174
Language
  • English
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