Regime Dependent Effects of Inflation Uncertainty on Real Growth: A Markov Switching Approach
SCOTTISH JOURNAL OF POLITICAL ECONOMY, cilt.63, sa.2, ss.135-155, 2016 (SSCI, Scopus)
- Yayın Türü: Makale / Tam Makale
- Cilt numarası: 63 Sayı: 2
- Basım Tarihi: 2016
- Doi Numarası: 10.1111/sjpe.12087
- Dergi Adı: SCOTTISH JOURNAL OF POLITICAL ECONOMY
- Derginin Tarandığı İndeksler: Social Sciences Citation Index (SSCI), Scopus
- Sayfa Sayıları: ss.135-155
- Açık Arşiv Koleksiyonu: AVESİS Açık Erişim Koleksiyonu
- Hacettepe Üniversitesi Adresli: Evet
Özet
We empirically investigate the effects of inflation uncertainty on output growth for the United States between 1960 and 2012. Modeling output dynamics within a Markov regime switching framework, we provide evidence that inflation uncertainty exerts a negative and regime-dependent impact on output growth. A battery of sensitivity checks confirm our findings.