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The relationship between inflation, output growth, and their uncertainties: evidence from selected CEE countries

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dc.contributor.author Hasanov, Mübariz
dc.contributor.author Omay, Tolga
dc.date.accessioned 2017-01-23T06:59:54Z
dc.date.available 2017-01-23T06:59:54Z
dc.date.issued 2011-07
dc.identifier.citation Omay, T., Hasanov, M. (2011). The relationship between inflation, output growth, and their uncertainties: evidence from selected CEE countries. Emerging Markets Finance And Trade, 47(3), 5-20. http://dx.doi.org/10.2753/REE1540-496X4704S301 tr_TR
dc.identifier.issn 1540-496X
dc.identifier.uri http://hdl.handle.net/20.500.12416/1236
dc.description.abstract In this paper, we examine causal relationships between inflation rate, output growth rate, inflation uncertainty, and output uncertainty for ten Central and Eastern European transition countries. For this purpose, we estimate a bivariate GARCH model that includes output growth and inflation rates for each country. Then we use conditional standard deviations of inflation and output to proxy nominal and real uncertainty, respectively, and perform Granger causality tests. Our results suggest that inflation rate induces uncertainty about both inflation rate and output growth rate, which is detrimental to real economic activity. At the same time, we find that output growth rate reduces macroeconomic uncertainty in some countries. In addition, we also examine and discuss causal relationships between the remaining variables tr_TR
dc.language.iso eng tr_TR
dc.publisher M E Sharpe Inc tr_TR
dc.relation.isversionof 10.2753/REE1540-496X4704S301 tr_TR
dc.rights info:eu-repo/semantics/closedAccess
dc.subject Granger Causality Tests tr_TR
dc.subject Inflation tr_TR
dc.subject Output Growth tr_TR
dc.subject Transition Countries tr_TR
dc.subject Uncertainty tr_TR
dc.title The relationship between inflation, output growth, and their uncertainties: evidence from selected CEE countries tr_TR
dc.type article tr_TR
dc.relation.journal Emerging Markets Finance And Trade tr_TR
dc.identifier.volume 47 tr_TR
dc.identifier.issue 3 tr_TR
dc.identifier.startpage 5 tr_TR
dc.identifier.endpage 20 tr_TR
dc.contributor.department Çankaya Üniversitesi, Meslek Yüksek Okulu tr_TR


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