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dc.contributor.authorMiles, William
dc.contributor.authorVijverberg, Chu-Ping C.
dc.date.accessioned2017-04-27T16:28:39Z
dc.date.available2017-04-27T16:28:39Z
dc.date.issued2009-01
dc.identifier.citationMiles, William Vijverberg, Chu-Ping C. Changing inflation dynamics and uncertainty in the United States. 2009. Southern Economic Journal, vol. 75:no.3:pp 736-749
dc.identifier.issn0038-4038
dc.identifier.otherWOS:000262572300008
dc.identifier.urihttp://EconPapers.repec.org/RePEc:sej:ancoec:v:75:3:y:2009:p:736-749
dc.identifier.urihttp://hdl.handle.net/10057/13029
dc.descriptionClick on the URL link to access the article (may not be free)
dc.description.abstractInflation uncertainty has been shown theoretically and empirically to lower real Output (Friedman 1977; Grier et al. 2004). Employing a Markov-switching model with regime-varying variance, as well as more traditional generalized autoregressive conditional heteroskedasticity (GARCH) estimation, we investigate recent changes in the level, persistence, and uncertainty of U.S. inflation. Despite the great strides in lowering inflation in the 1980s and 1990s. we find that uncertainty has risen palpably in the Current decade. This is disturbing given the aforementioned findings of the negative impact of inflation uncertainty oil Output. Moreover, analyzing both the standard Consumer Price Index (CPI) and the CPI minus energy, Our results Suggest that volatile energy costs contribute to the higher inflation uncertainty in the United States in the current decade.
dc.language.isoen_US
dc.publisherSouthern Economic Journal
dc.relation.ispartofseriesSouthern Economic Journal;v.75:no.3
dc.subjectExchange-rate regimes
dc.subjectTime-series
dc.subjectPersistence| Hypothesis| Permanent
dc.titleChanging inflation dynamics and uncertainty in the United States
dc.typeArticle
dc.rights.holderCopyright 2009 Southern Economic Association


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