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The Link between Inflation and Output Variability in Canada: Note

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  • Iscan, Talan
  • Osberg, Lars

Abstract

One of the costs of high levels of inflation may be misperceptions of relative prices and excessive volatility in sectoral output. This paper therefore examines the relationship between the level of inflation and sectoral output growth variability in Canada from 1961:1 to 1995:4. Despite the substantial variation in inflation over this period, the authors find little evidence of an impact of the level of inflation on variability of sectoral output growth. Their results indicate that the oil price and the real exchange rate are significantly correlated with the variability of output growth across sectors.

Suggested Citation

  • Iscan, Talan & Osberg, Lars, 1998. "The Link between Inflation and Output Variability in Canada: Note," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 30(2), pages 261-272, May.
    • Handle: RePEc:mcb:jmoncb:v:30:y:1998:i:2:p:261-72
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    Cited by:

    1. Muhammad Khan, 2013. "Inflation and Sectoral Output Growth Variability in Bulgaria," Comparative Economic Studies, Palgrave Macmillan;Association for Comparative Economic Studies, vol. 55(4), pages 687-704, December.
    2. Muhammad Ayyoub & Julia Wörz, 2021. "Inflation‐growth nexus in developing economies: New empirical evidence from a disaggregated approach," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 26(1), pages 241-257, January.
    3. Khan, Muhammad, 2016. "Evidence on the functional form of inflation and output growth variability relationship in European economies," International Economics, Elsevier, vol. 146(C), pages 1-11.
    4. Nicholas Apergis & Stephen M. Miller, 2007. "Total Factor Productivity and Monetary Policy: Evidence from Conditional Volatility," International Finance, Wiley Blackwell, vol. 10(2), pages 131-152, July.
    5. Mustafa Caglayan & Feng Jiang, 2006. "Reexamining the linkages between inflation and output growth: A bivariate ARFIMA-FIGARCH approach," Working Papers 2006_8, Business School - Economics, University of Glasgow.
    6. Muhammad Ayyoub, 2016. "Inflation-growth nexus in developing economies: New empirical evidence from a dis-aggregated approach," Economics working papers 2016-02, Department of Economics, Johannes Kepler University Linz, Austria.
    7. Davis, George K. & Hineline, David & Kanago, Bryce E., 2011. "Inflation and real sectoral output shares: Dynamic panel model evidence from seven OECD countries," Journal of Macroeconomics, Elsevier, vol. 33(4), pages 607-619.

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