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Inflation uncertainty and a test of the Friedman hypothesis

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  • Hafer, R. W.

Abstract

This paper tests Friedman's (1977) hypothesis that increases in inflation uncertainty, ceteris paribus, may yield higher levels of unemployment. Tests are made using quarterly measures of inflation uncertainty taken from the ASA-NBER survey. Using the 1972-1984 period, we find general support for the hypothesis.

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Bibliographic Info

Article provided by Elsevier in its journal Journal of Macroeconomics.

Volume (Year): 8 (1986)
Issue (Month): 3 ()
Pages: 365-372

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Handle: RePEc:eee:jmacro:v:8:y:1986:i:3:p:365-372

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Web page: http://www.elsevier.com/locate/inca/622617

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Cited by:
  1. Hakan Berument & Nergiz Dinçer, 2005. "The Effects of Exchange Rate Risk on Economic Performance : The Turkish Experience," Departmental Working Papers 0513, Bilkent University, Department of Economics.
  2. Dennis W. Jansen, 1989. "Does inflation uncertainty affect output growth? Further evidence," Review, Federal Reserve Bank of St. Louis, issue Jul, pages 43-54.
  3. Syed Kumail Abbas Naqvi & Bushra Naqvi, 2010. "Asymmetric Behavior of Inflation Uncertainty and Friedman-Ball Hypothesis: Evidence from Pakistan," Lahore Journal of Economics, Department of Economics, The Lahore School of Economics, vol. 15(2), pages 1-33, Jul-Dec.
  4. Hakan Berument & Ebru Yuksel, 2007. "Effects of Adopting Inflation Targeting Regimes on Inflation Variability," Departmental Working Papers 0702, Bilkent University, Department of Economics.
  5. Hafer, R. W., 1992. "Inflation and price instability in China: A comment," China Economic Review, Elsevier, vol. 3(2), pages 213-218.
  6. Paresh Kumar Narayan & Seema Narayan, 2011. "The inflation-output nexus:empirical evidence from India, Brazil and South Africa," Financial Econometics Series 2011_06, Deakin University, Faculty of Business and Law, School of Accounting, Economics and Finance.
  7. Wilson, Bradley Kemp, 2006. "The links between inflation, inflation uncertainty and output growth: New time series evidence from Japan," Journal of Macroeconomics, Elsevier, vol. 28(3), pages 609-620, September.
  8. Wu, Jyh-Lin & Chen, Show-Lin & Lee, Hsiu-Yun, 2003. "Sources of inflation uncertainty and real economic activity," Journal of Macroeconomics, Elsevier, vol. 25(3), pages 397-409, September.
  9. Brandt, Michael W. & Wang, Kevin Q., 2003. "Time-varying risk aversion and unexpected inflation," Journal of Monetary Economics, Elsevier, vol. 50(7), pages 1457-1498, October.
  10. Rizvi, Syed Kumail Abbas & Naqvi, Bushra, 2008. "Asymmetric Behavior of Inflation Uncertainty and Friedman-Ball Hypothesis: Evidence from Pakistan," MPRA Paper 19488, University Library of Munich, Germany.

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