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Inflation and Output Growth Uncertainty and their Relationship with Inflation and Output Growth
Fountas, Stilianos
Using a bivariate GARCH model of inflation and output growth we find evidence that higher inflation and more inflation uncertainty lead to lower output growth in the Japanese economy. These results support the argument of a price stability objective for the monetary authority.
Keyword(s): Economics; Inflation; Output growth; Uncertainty; Granger-causality; Bivariate
Publication Date:
2010
Type: Working paper
Peer-Reviewed: Yes
Language(s): English
Institution: NUI Galway
Publisher(s): National University of Ireland, Galway
File Format(s): application/pdf
First Indexed: 2015-11-10 09:20:48 Last Updated: 2015-11-10 09:20:48