One of the major emerging macroeconomic problems during the past century has been the tendency for inflation to accelerate under prolonged periods of full employment. According to Isaac and Kaldor, this arises because the three major objectives of wage earners often conflict. The first objective...

The paper examines the effect of inflation on growth in transition countries. It presents panel data evidence for 13 transition countries over the 1990-2003 period; it uses a fixed effects panel approach to account for possible bias from correlations among the unobserved effects and the observed...

The paper examines the effect of inflation on growth in transition countries. It presents panel data evidence for 13 transition countries over the 1990-2003 period; it uses a fixed effects, full-information maximum likelihood, panel approach to account for possible bias from correlations among...