dc.contributor.author | Miles, William | |
dc.contributor.author | Vijverberg, Chu-Ping C. | |
dc.date.accessioned | 2017-04-27T16:28:39Z | |
dc.date.available | 2017-04-27T16:28:39Z | |
dc.date.issued | 2009-01 | |
dc.identifier.citation | Miles, 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.issn | 0038-4038 | |
dc.identifier.other | WOS:000262572300008 | |
dc.identifier.uri | http://EconPapers.repec.org/RePEc:sej:ancoec:v:75:3:y:2009:p:736-749 | |
dc.identifier.uri | http://hdl.handle.net/10057/13029 | |
dc.description | Click on the URL link to access the article (may not be free) | |
dc.description.abstract | Inflation 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.iso | en_US | |
dc.publisher | Southern Economic Journal | |
dc.relation.ispartofseries | Southern Economic Journal;v.75:no.3 | |
dc.subject | Exchange-rate regimes | |
dc.subject | Time-series | |
dc.subject | Persistence| Hypothesis| Permanent | |
dc.title | Changing inflation dynamics and uncertainty in the United States | |
dc.type | Article | |
dc.rights.holder | Copyright 2009 Southern Economic Association | |