References
- Agarwal, I. & Baron, M. (2023). Inflation and Disintermediation Available at SSRN: https://ssrn.com/abstract=3399553
- Agoba, A. M., Abor, J., Osei, K. A., & Sa-Aadu, J., (2017). Central bank independence and inflation in Africa: The role of financial systems and institutional quality. Central Bank Review 17(4): 131-146.
- Agur, I., (2020). Central bank independence and low inflation: who leads the dance? Applied Economics Letters, 1–5. doi:10.1080/13504851.2020.1761525
- Alley, R. B., Brook, E. J., & Anandakrishnan, S., (2002). A northern lead in the orbital band: north-south phasing of Ice-Age events. Quaternary Science Reviews, 21(1-3): 431-441.
- Anidiobu, G., Okolie, P. I. P. & Oleka, D. C. (2018). Analysis of Inflation and Its Effect on Economic Growth in Nigeria. Journal of Economics and Finance, 9: 28–36.
- Avom, D. (2006). La BEAC en marche vers son indépendance : des évolutions institutionnelles remarquables, in Economies de l’Afrique centrale, Maison Neuve, Paris, pp. 137-144.
- Aydin, C., Esen, O., & Bayrak, M. (2016). Inflation and economic growth: A dynamic panel threshold analysis for Turkish Republics in transition process. Procedia- Social Bahavioral Sciences, 229, 196-205. https://doi.org/10.1016/j.sbspro.2016.07.129
- Azam, M., Khan, R. & Khan, S. (2022). Does Phillips Curve Exist? Evidence from the Middle East and North African Countries, Journal of Central Banking Theory and Practice, 3:59-78.
- Ball, L., Mankiw, N. G., & Romer, D. (1988). The New Keynesian Economics and the Output-Inflation Trade-Off. Brookings Papers on Economic Activity, 1988(1), 1–82.
- Bernanke, B.S., Laubach, T., Mishkin, F. S. and Posen, A. S. (1999). Inflation targeting : lessons from the international experience. Princeton University Press, https://doi.org/10.2307/j.ctv301gdr
- Bibow, J. (2002). What Has Happened to Monetarism? An Investigation into the Keynesian roots of Milton Friedman’s Monetary Thought and its Apparent Monetarist Legacies. Working Paper, No. 347.
- Bjornland, H. C., Brubakk, L. & Jore, A., (2008). Forecasting inflation with an uncertain output gap. Empirical Economics, 35(3): 413-436.
- Brunnermeier, M. K., & Sannikov, Y. (2016). On the Optimal Inflation Rate. American Economic Review, 106 (5): 484-89.
- Cai, W. J., Ng, B., Geng, T., Wu, L. X., Santoso, A. & McPhaden, M. J. (2020). Butterfly effect and a self-modulating El Nino response to global warming. Nature, 585(7823)
- Cristini, A., and Ferri P., (2021). Nonlinear models of the Phillips curve. J. Evolut. Econ., 31 (4), 1129-1155, 10.1007/s00191-021-00736-5
- Davcev, L, Hourvouliades, N. & Komic, J. (2018). Impact of interest rate and inflation on GDP in Bulgaria, Romania and FYROM. Journal of Balkan and Near Eastern Studies, 20: 131–47
- Ellner, S. P. & Turchin, P. (2005). When can noise induce chaos and why does it matter: a critique. OIKOS 111(3): 620-631.
- Estrella, A. & Hardouvelis, G. A. (1991). The Term Structure as a Predictor of Real Economic Activity. Journal of Finance, 46(2): 555-576.
- Fama, E. & Schwert, G. (1977). Asset returns and inflation. Journal of Financial Economics, 5, 115-146.
- Fisher, S., (1993), “The Role of Macroeconomic Factors in Growth”, Journal of Monetary Economics, 32, pp. 485-512
- Fouda, S.M. (1997). Political monetary cycles and independence of the Central Bank in a Monetary union: an empirical test for a BEAC Franc Zone Member Country. Journal of African Economies, 6(1), 112-32
- Bank of France (1995). Rapport annuel de la Zone Franc.
- Friedman, M. (1961). The lag in effect of monetary policy. Journal of Political Economy, 69: 447–66
- Giammarioli, N. & Valla, N. (2004). The natural real interest rate and monetary policy: a review. Journal of Policy Modeling, 26(5): 641-660.
- Ghosh, A., & Phillips, S. (1998). Warning: Inflation May Be Harmful to Your Growth. IMF Staff, 45, 672-710. https://doi.org/10.2307/3867589
- Gocer, I. & Ongan, S. (2020). The Relationship between Inflation and Interest Rates in the UK: The Nonlinear ARDL Approach. Journal of Central Banking Theory and Practice, 3: 77-86
- Gokal, V., & Hanif, S. (2004). Relationship between Inflation and Economic Growth. Working Paper No. 2004/04, Suva: Economics Department, Reserve Bank of Fiji.
- Gross M., and Semmler W., (2019). Mind the output gap: the disconnect of growth and inflation during recessions and convex Phillips curves in the Euro Area. Oxf. Bull. Econ. Stat., 81 (4), 817-848, 10.1111/obes.12291
- Gul, E. & Ekinci, A. (2006). The causal relationship between nominal interest rates and inflation: The case of turkey. Scientific Journal of Administrative Development, 4, 2006, 54–69.
- Hamilton, J. D. (2018). Why You Should Never Use the Hodrick-Prescott Filter. Review of Economics and Statistics, 100(5): 831-843.
- Hayek, F.A., 1933. The Trend of Economic Thinking. Economica 40, 121–137
- Hayat, M. A., Ghulam, H., Batool, M., Naeem, M. Z., Ejaz, A., Spulbar, C. & Birau R. (2021). Investigating the Causal Linkages among Inflation, Interest Rate, and Economic Growth in Pakistan under the Influence of COVID-19 Pandemic: A Wavelet Transformation Approach. Journal of Risk and Financial Management 14: 277. https://doi.org/10.3390/jrfm14060277
- Huang, N. E., Z. Shen, S. R. Long, M. L. C. Wu, H. H. Shih, Q. N. Zheng, N. C. Yen, C. C. Tung and H. H. Liu (1998). “The empirical mode decomposition and the Hilbert spectrum for nonlinear and non-stationary time series analysis.” Proceedings of the Royal Society a-Mathematical Physical and Engineering Sciences 454(1971): 903-995.
- Jones, C. I., (2016). Life and Growth. Journal of Political Economy, 124, Number 2
- Kersting, E. K. and Kilby C. (2016). “With a little help from my friends: Global electioneering and World Bank lending.” Journal of Development Economics, 121: 153-165.
- Keynes, J. M. (1936). The General Theory of Employment, Interest, and Money, Palgrave Mac-millan, London.
- Kestin, T. S., Karoly, D. J., Yang, J. I., & Rayner, N. A., (1998). Time-frequency variability of ENSO and stochastic simulations. Journal of Climate, 11(9): 2258-2272.
- Khan M. S. and Senhadji, A. S., (2001). “Threshold Effects in the Relationship Between Inflation and Growth,” IMF Staff Papers, Palgrave Macmillan, 48(1), 1-21.
- Kilby, C. (2009). “The political economy of conditionality: An empirical analysis of World Bank loan disbursements.” Journal of Development Economics 89(1): 51-61.
- Kumar, V., Acharya, S. & Ho, L.T.H.. (2020). Does Monetary Policy Influence the Profitability of Banks in New Zealand? International Journal of Financial Studies, 8: 35.
- Kusumatrisna, A. L., Sugema, I. and Pasaribu, S. H. (2022) “Threshold effect in the relationship betweeb inflation rate and economic growth in Indonesia,” Bulletin of Monetary Economics and Banking, 25(1), 14. DOI:https://doi.org/10.21098/bemp.v25i1.1045
- Leightner, J. E. (2020). Estimates of the Inflation versus Unemployment Tradeoff that are not Model Dependent, Journal of Central Banking Theory and Practice, 1: 5-21
- Machamer, P. and Wolters, G. (2007). Causality in economics. Thinking about causes. From Greek philosophy to modern physics. Pittsburgh, University of Pittsburgh press: 284-296
- McKinnon, R. I. 1973 Money and Capital in Economic Development. Brookings Institution Press,. http://www.jstor.org/stable/10.7864/jj.17497055.
- Mallik, G. and Chowdhury, A. (2001) Inflation and Economic Growth: Evidence from Four South Asian Countries. Asia-Pacific Development Journal, 8, 123-135
- Mishkin, F. S. (1989). International Experiences with Different Monetary Policy. National Bureau of Economic Research.
- Mohsin S. K. & Abdelhak S. S., (2001). “Threshold Effects in the Relationship Between Inflation and Growth,” IMF Staff Papers, Palgrave Macmillan, vol. 48(1), pages 1-1.
- Omay, T., and Kan E. Ö., (2010). Re-examining the threshold effects in the inflation–growth nexus with cross-sectionally dependent non-linear panel: Evidence from six industrialized economies, Economic Modelling, 27(5), 996-1005,
- Ramlan, H., & Suhaimi, M. (2017). The relationship between interest rate and inflation toward the economic growth in Malaysia. Journal of Humanities, Language, Culture and Business (HLCB), 1(1), 55-63.
- Seip, K. L. & Grøn, Ø. (2016). Leading the Game, Losing the Competition: Identifying Leaders and Followers in a Repeated Game. Plos One 11(3).
- Seip, K. L. & Grøn, Ø. (2017). On the statistical nature of distinct cycles in global warming variables. Climate dynamics.
- Seip, K. L. & McNown, R. (2007). The timing and accuracy of leading and lagging business cycle indicators: a new approach. International journal of forecasting, 22: 277-287.
- Seip, K. L. & McNown, R. (2013). Monetary policy and stability during six periods in US economic history: 1959-2008: a novel, nonlinear monetary policy rule. Journal of policy modeling, 35(2): 307-325.
- Seip, K. L., Yilmaz, Y. & Schroder, M. (2019). Comparing Sentiment- and Behavioral-Based Leading Indexes for Industrial Production: When Does Each Fail? Economies, 7(4).
- Seip, K. L. & Zhang, D. (2024). Scoring Six Detrending Methods on Timing, Lead-Lag Relations, and Cycle Periods: An Empirical Study of US and UK Recessions 1977–2020. Computational Economics. https://doi.org/10.1007/s10614-024-10548-x
- Shaukat, B., Zhu, Q. & Khan, M.I. (2019). Real interest rate and economic growth: A statistical exploration for transitory economies,” Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 534(C). DOI: 10.1016/j.physa.
- Shaw, E.S. (1973). Financial Deepening in Economic Development, Oxford University Press, New York.
- Stips, A., Macias, D., Coughlan, C., Garcia-Gorriz, E., and San Liang X. (2016). “On the causal structure between CO2 and global temperature.” Scientific Reports 6.
- Sugihara, G., May, R., Ye, H., Hsieh, C. H., Deyle, E., Fogarty, M. & Munch, S. (2012). Detecting Causality in Complex Ecosystems. Science, 338(6106): 496-500.
- Taderera, C., Runganga, R., Mhaka, S., & Mishi, S. (2021). Inflation, Interest Rate and Economic Growth Nexuses in SACU Countries, MPRA Paper No. 105419.
- Taylor, J.B., 1993. Discretion versus Policy Rules in Practice. Carnegie-Rochester Conference Series on Public Policy 39, December, 195-214.
- Tobin, J. (1969) A General Equilibrium Approach to Monetary Theory. Journal of Money, Credit & Banking, 1, 15-29. https://doi.org/10.2307/1991374
- Umoru, D. & Oseme, A. S., (2013). Inflation Expectations and Interest Rate Variation in Nigeria: An Econometric Assessment of the Evidence. International Journal of Development and Economic Sustainability, 1(2), 1-12.
- Vinayagathasan, T., (2013). Inflation and economic growth: A dynamic panel threshold analysis for Asian economies. Journal of Asian Economics, 26, 31-41.
- Westerlund, J., (2008). Panel cointegration tests of the fisher effect. Journal of Applied Econometrics, 23 (2), 193–23