Analýza kauzality inflace a ekonomického růstu ve vybraných evropských zemích

The thesis analyzes the correlation and causality between inflation and economic growt and between inflation greater than 4 % and economic growth. There is no consensus among economists if inflation affects economic growth and how it affects. The work of Mallik, Chowdhury (2001) suggests a positive coreelation, but for example the work of Gokal, Hanif (2004) suggests quite the opposite relationship for high inflation. The correlation is examined in 27 states of the European Union without Great Britain in years from 2000 to 2021 while using 4 different models. The main contribution of this paper is the examination of the correlation of inlfation and economic growth on the example of the countries of the European Union. The results from all 4 models indicate a positive correlation between inflation and economic growth. The data suggets that economic growth indirectly caused inflation and not the other way around. There are not enough statistically significant results to make a clear conclusion about the relationship between inflation greater than 4 % and economic growth. Another contribution of this paper is the creation of different models for analyzing the correlation between inflation and economic growth and their comparison. The used models are based on the work of Grimes (1991). The most suitable model used for analyzing the relationship between inflation and economic growth is model number 2. This work also shows the appropriateness of using individual variables in econometric models when analyzing the correlation between inflation and economic growth, and also shows the appropriateness of using lags of individual variables.