Inflation and output growth uncertainty and their relationship with inflation and output growth
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作者:
Fountas, S
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机构:Univ York, Dept Econ & Related Studies, York YO10 5DD, N Yorkshire, England
Fountas, S
Karanasos, M
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Univ York, Dept Econ & Related Studies, York YO10 5DD, N Yorkshire, EnglandUniv York, Dept Econ & Related Studies, York YO10 5DD, N Yorkshire, England
Karanasos, M
[1
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Kim, J
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机构:Univ York, Dept Econ & Related Studies, York YO10 5DD, N Yorkshire, England
Kim, J
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[1] Univ York, Dept Econ & Related Studies, York YO10 5DD, N Yorkshire, England
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. (C) 2002 Elsevier Science B.V. All rights reserved.