English, Article, Journal or magazine article edition: The Steady Inflation Rate of Economic Growth Mardi Dungey; John Pitchford

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Bookmark: http://trove.nla.gov.au/version/48670
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • The Steady Inflation Rate of Economic Growth
Author
  • Mardi Dungey
  • John Pitchford
Physical Description
  • preprint
Notes
  • This paper considers the existence of a path of GDP corresponding to steady inflation in the prices of domestic goods. We estimate the steady inflation rate of growth, denoted the SIRG, at a little over 4 per cent per annum in the post-float period. Changes in inflation are modelled as a nonlinear combination of growth and changes in import price inflation. Because import price inflation is more volatile than overall inflation, policy that targets overall inflation may require growth to fluctuate considerably, whereas growth can be steady if the target is steady inflation of domestic goods' prices.
  • inflation, growth , import prices, monetary policy
  • RePEc:auu:dpaper:414
Language
  • English
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