Inflation and Output Growth Uncertainty and their Relationship with Inflation and Output Growth

Stilianos Fountas and Karanasos Menelaos ()
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Karanasos Menelaos: Department of Economics, National University of Ireland, Galway

No 53, Working Papers from National University of Ireland Galway, Department of Economics

Abstract: 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.

Keywords: Inflation; Output Growth; Uncertainty; Granger-Causality; Bivariate. GARCH (search for similar items in EconPapers)
JEL-codes: C22 C51 C52 E0 (search for similar items in EconPapers)
Date: 2001, Revised 2001
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Published in Economics Letters, 2002, vol. 75/3, pp. 293-301.

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Journal Article: Inflation and output growth uncertainty and their relationship with inflation and output growth (2002)
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