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Inflation And Output Growth Uncertainty And Their Relationship With Inflation And Output Growth
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Book Synopsis Inflation and Output Growth Uncertainty and Their Relationship with Inflation and Output Growth by : Stilianos Fountas
Download or read book Inflation and Output Growth Uncertainty and Their Relationship with Inflation and Output Growth written by Stilianos Fountas and published by . This book was released on 2001 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Inflation and Output Growth Uncertainty and Their Relatonship with Inflation and Output Growth by : Stilianos Fountas
Download or read book Inflation and Output Growth Uncertainty and Their Relatonship with Inflation and Output Growth written by Stilianos Fountas and published by . This book was released on 2001 with total page 8 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Inflation Uncertainty, Output Growth Uncertainty and Macroeconomic Performance by : Stilianos Fountas
Download or read book Inflation Uncertainty, Output Growth Uncertainty and Macroeconomic Performance written by Stilianos Fountas and published by . This book was released on 2007 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We use a bivariate generalized autoregressive conditionally heteroskedastic (GARCH) model of inflation and output growth to examine the causality relationship among nominal uncertainty, real uncertainty and macroeconomic performance measured by the inflation and output growth rates. The application of the constant conditional correlation GARCH(1,1) model leads to a number of interesting conclusions. First, inflation does cause negative welfare effects, both directly and indirectly, i.e. via the inflation uncertainty channel. Secondly, in some countries, more inflation uncertainty provides an incentive to Central Banks to surprise the public by raising inflation unexpectedly. Thirdly, in contrast to the assumptions of some macroeconomic models, business cycle variability and the rate of economic growth are related. More variability in the business cycle leads to more output growth.
Book Synopsis Dynamics of Inflation, Output Growth and Their Uncertainty in the UK by : Zeynel Abidin Ozdemir
Download or read book Dynamics of Inflation, Output Growth and Their Uncertainty in the UK written by Zeynel Abidin Ozdemir and published by . This book was released on 2010 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The aim of this paper is to analyse the dynamics relationships between inflation, output growth, and real and nominal uncertainty using the VARFIMA-BEKK MGARCH model of inflation and output growth and quarterly data for the UK covering the 1957:Q2-2006:Q4 period. The analysis is also done for the three sub-periods determined by considering the structural changes such as the Great Moderation in the series of the UK. Two findings are obtained. First, the evidence obtained from the full period supports a number of important conclusions, one of which is mixed evidence regarding the effect of inflation on inflation uncertainty, another one being strong evidence regarding the positive effect of inflation uncertainty on inflation and output growth. Taking this into account, it is possible to put forward that an essential determinant of economic growth is uncertainty about the inflation rate. The last finding for this period is that output growth uncertainty is a positive determinant of the inflation and output growth rate. Second, the evidence found from the sub-periods is that there are no linkages between inflation, output growth and their volatility.
Book Synopsis Inflation, Output Growth and Their Uncertainties by : Perekunah B. Eregha
Download or read book Inflation, Output Growth and Their Uncertainties written by Perekunah B. Eregha and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The study applies a BEKK GARCH-M model to examine the effect of uncertainty on the levels of inflation and output growth in Nigeria. The results suggest a significant positive effect of inflation uncertainty on the level of inflation, supporting the Cukierman and Meltzer (1986) hypothesis. In addition, uncertainty about inflation is found to be detrimental to output growth, supporting the Friedman’s (1977) hypothesis of a negative effect of inflation uncertainty on output growth. Uncertainty about growth does not have a significant effect on both the levels of inflation and output growth. The evidence in this study suggests that Nigeria should put in place policies minimizing inflation uncertainty to avoid its adverse effects on the economy. In addition, the independence relationship between output growth and its uncertainty in Nigeria suggest that they can be treated separately as suggested by business cycle models.
Book Synopsis Does the Magnitude of the Effect of Inflation Uncertainty on Output Growth Depend on the Level of Inflation? by : Kuang-Liang Chang
Download or read book Does the Magnitude of the Effect of Inflation Uncertainty on Output Growth Depend on the Level of Inflation? written by Kuang-Liang Chang and published by . This book was released on 2010 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: A bivariate Markov regime switching model is employed to verify whether the relationship between inflation and inflation uncertainty, or the negative effects of inflation and inflation uncertainty on output growth, vary with the level of inflation. Inflation and inflation uncertainty are positively correlated in the high-inflation regime. In contrast, in the low-inflation regime, the direct effect of inflation on output growth is insignificant, but the indirect negative effect on growth via inflation uncertainty is highly significant. The negative influence in a high-inflation regime is 2.664 times greater than that in a low-inflation regime.
Book Synopsis Money Growth Uncertainty, Inflation Uncertainty and Real Output Growth by : Seungjun Lee
Download or read book Money Growth Uncertainty, Inflation Uncertainty and Real Output Growth written by Seungjun Lee and published by . This book was released on 1994 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Inflation and Output Growth Uncertainty in Individual Survey Expectations by : Maritta Paloviita
Download or read book Inflation and Output Growth Uncertainty in Individual Survey Expectations written by Maritta Paloviita and published by . This book was released on 2014 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies uncertainty using the ECB Survey of Professional Forecasters' data. We consider both inflation and real GDP growth forecasts at the micro level and explore forecast uncertainty using two alternative measures, i.e. conventional standard deviation of individual point forecasts and the median values of individual forecasters' uncertainty, which are based on subjective probability distributions of survey respondents. Our analysis indicates that individual inflation uncertainty is closely related to the output growth uncertainty. In forming expectations, individual forecasters seem to behave according to an uncertainty-augmented hybrid specification of the New Keynesian Phillips curve. We also find evidence that inflation uncertainty has a negative impact on economic activity by decreasing output growth and increasing inflation and lowering the price sensitiveness of aggregate supply.
Book Synopsis Subjective and Ex Post Forecast Uncertainty by : Michael P. Clements
Download or read book Subjective and Ex Post Forecast Uncertainty written by Michael P. Clements and published by . This book was released on 2012 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Inflation, Output Growth. and Nominal and Real Uncertainty by : Stilianos Fountas
Download or read book Inflation, Output Growth. and Nominal and Real Uncertainty written by Stilianos Fountas and published by . This book was released on 2002 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Inflation Uncertainty, Output Growth Uncertainty and Macroeconomic Performance : Comparing Alternative Exchange Rate Regimes in Eastern Europe by : Muhammad Khan
Download or read book Inflation Uncertainty, Output Growth Uncertainty and Macroeconomic Performance : Comparing Alternative Exchange Rate Regimes in Eastern Europe written by Muhammad Khan and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Inequality, Output-Inflation Trade-Off and Economic Policy Uncertainty by : Eliphas Ndou
Download or read book Inequality, Output-Inflation Trade-Off and Economic Policy Uncertainty written by Eliphas Ndou and published by Springer. This book was released on 2019-08-13 with total page 507 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book focuses on income inequality, output-inflation trade-off and economic policy uncertainty in South Africa. Tight monetary and macroprudential policies raise income inequality. Income inequality transmits monetary policy and macroprudential policy shocks to real economic activity. Economic policy uncertainty influences the dynamics in the lending rate margins, inflation expectations, credit, pass-through of the repo rate to bank lending rates and companies’ cash holdings. The trade-off between output and inflation and output growth persistence vary with inflation regimes. Stimulatory demand policy shocks are less effective in high inflation regime. High income inequality raises consumption inequality, which raises demand for credit, but price stability matters in this link. Increased bank concentration raises income inequality, lowers economic growth and employment rate. Elevated economic policy uncertainty lowers output growth, lowers capital formation, reduces credit and raises companies’ cash holdings. Increased companies’ cash holdings reduce capital formation and impact the transmission of expansionary monetary policy shocks to real economic activity. This book shows there is an inflation level within the target band below it which lowers income inequality, while raising GDP growth and employment. Thus price stability, economic policy uncertainty and income inequality matter for the efficient transmission of policy shocks.
Book Synopsis The Effects of Inflation on Economic Uncertainty, Growth, and Unemployment by : A. Steven Holland
Download or read book The Effects of Inflation on Economic Uncertainty, Growth, and Unemployment written by A. Steven Holland and published by . This book was released on 1983 with total page 232 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Great Inflation by : Michael D. Bordo
Download or read book The Great Inflation written by Michael D. Bordo and published by University of Chicago Press. This book was released on 2013-06-28 with total page 545 pages. Available in PDF, EPUB and Kindle. Book excerpt: Controlling inflation is among the most important objectives of economic policy. By maintaining price stability, policy makers are able to reduce uncertainty, improve price-monitoring mechanisms, and facilitate more efficient planning and allocation of resources, thereby raising productivity. This volume focuses on understanding the causes of the Great Inflation of the 1970s and ’80s, which saw rising inflation in many nations, and which propelled interest rates across the developing world into the double digits. In the decades since, the immediate cause of the period’s rise in inflation has been the subject of considerable debate. Among the areas of contention are the role of monetary policy in driving inflation and the implications this had both for policy design and for evaluating the performance of those who set the policy. Here, contributors map monetary policy from the 1960s to the present, shedding light on the ways in which the lessons of the Great Inflation were absorbed and applied to today’s global and increasingly complex economic environment.
Book Synopsis Modeling the Link Between US Inflation and Output by : Christian Conrad
Download or read book Modeling the Link Between US Inflation and Output written by Christian Conrad and published by . This book was released on 2014 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper employs an augmented version of the UECCC GARCH specification proposed in Conrad and Karanasos (2010) which allows for lagged in-mean effects, level effects as well as asymmetries in the conditional variances. In this unified framework we examine the twelve potential intertemporal relationships between inflation, growth and their respective uncertainties using US data. We find that high inflation is detrimental to output growth both directly and indirectly via the nominal uncertainty. Output growth boosts inflation but mainly indirectly through a reduction in real uncertainty. Our findings highlight how macroeconomic performance affects nominal and real uncertainty in many ways and that the bidirectional relation between inflation and growth works to a large extent indirectly via the uncertainty channel.
Book Synopsis Inflation Targeting Under Potential Output Uncertainty by : Victor Gaiduch
Download or read book Inflation Targeting Under Potential Output Uncertainty written by Victor Gaiduch and published by International Monetary Fund. This book was released on 2000-10 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: The concept of sustainable productive capacity is playing an increasingly important role in monetary policy formulation throughout the world. Specifying price stability as a central objective of monetary policy has contributed to this increased importance. The long lags between policy actions and inflation outcomes mean that indicators of future inflation pressures must be relied on to guide current policy actions that are aimed at achieving price stability. The extent to which an economy's productive resources are being utilized is considered to be a useful indicator of future price pressures. Whether productive resources are defined in terms of the goods market (potential output) or the labor market (trend unemployment), policymakers rely on estimates of these concepts to determine whether current levels of activity can be sustained without generating price pressures. If activity is deemed to be above a sustainable level, policymakers may suspect that upward pressure on inflation will emerge if they do not take actions to moderate activity. Conversely, if current activity is below the sustainable level this may lead policymakers to stimulate activity to avoid future downward pressure on inflation.
Book Synopsis Inflation, Disinflation, and Growth by : Mr.Atish R. Ghosh
Download or read book Inflation, Disinflation, and Growth written by Mr.Atish R. Ghosh and published by International Monetary Fund. This book was released on 1998-05-01 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt: Although few would doubt that very high inflation is bad for growth, there is much less agreement about moderate inflation’s effects. Using panel regressions and a nonlinear specification, this paper finds a statistically and economically significant negative relationship between inflation and growth. This relationship holds at all but the lowest inflation rates and is robust across various samples and specifications. The method of binary recursive trees identifies inflation as one the most important statistical determinants of growth. Finally, while there are short-run growth costs of disinflation, these are only relevant for the most severe disinflations, or when the initial inflation rate is well within the single-digit range.
