The impact of nominal and real uncertainty on macroeconomic aggregates in Greece

Heather Gibson and Hiona Balfoussia

Economic Bulletin, 2010, issue 34, 57-71

Abstract: We examine real uncertainty (measured by the variability of real growth) and whether it impacts on inflation. Additionally, we investigate whether nominal or real uncertainty impact on growth and, if so, in what direction. The results indicate that nominal uncertainty impacted negatively on growth in Greece, especially before euro area entry. The effect of real uncertainty on growth is more mixed, with some evidence that it positively influences growth though only at very short horizons. This effect also seems to have disappeared following euro area entry. Finally, there appears to be no effect of real uncertainty on inflation.

Keywords: uncertainty; growth; inflation (search for similar items in EconPapers)
JEL-codes: C22 E31 E32 (search for similar items in EconPapers)
Date: 2010
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (29)

Downloads: (external link)
https://www.bankofgreece.gr/BogEkdoseis/econbull201009.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:bog:econbl:y:2010:i:34:p:57-71

Access Statistics for this article

Economic Bulletin is currently edited by Dimitris Malliaropulos

More articles in Economic Bulletin from Bank of Greece Contact information at EDIRC.
Bibliographic data for series maintained by Anastasios Rizos ().