Macroeconomic Uncertainty, Growth and Inflation in the Eurozone: A Causal Approach
Vasilios Plakandaras (),
Rangan Gupta (),
Periklis Gogas () and
Theophilos Papadimitriou ()
No 201737, Working Papers from University of Pretoria, Department of Economics
In this paper, we evaluate the causal relationship between macroeconomic uncertainty indices, inflation and growth rate for 17 Eurozone countries on a county level examination. In performing a series of linear and non-linear causality tests we find little evidence of a causal relationship between uncertainty and macroeconomic variables. Thus, macroeconomic analysis based on uncertainty indices should be treated with caution.
Keywords: Output growth; inflation; uncertainty; causality (search for similar items in EconPapers)
JEL-codes: C32 E23 E27 E31 E37 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-dcm, nep-eec, nep-gro, nep-mac and nep-mon
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Journal Article: Macroeconomic uncertainty, growth and inflation in the Eurozone: a causal approach (2018)
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Persistent link: https://EconPapers.repec.org/RePEc:pre:wpaper:201737
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