Regime dependent effects of inflation uncertainty on real growth: a markov switching approach

Mustafa Caglayan, Ozge Kandemir Kocaaslan, Kostas Mouratidis

Research output: Contribution to journalArticlepeer-review

9 Citations (Scopus)

Abstract

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.

Original languageEnglish
Pages (from-to)135-155
Number of pages21
JournalScottish Journal of Political Economy
Volume63
Issue number2
Early online date12 Jun 2015
DOIs
Publication statusPublished - May 2016

ASJC Scopus subject areas

  • Economics and Econometrics
  • Sociology and Political Science

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