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Indexation and the Effect of Inflation Uncertainty on Real GNP

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  • Holland, A Steven
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    Abstract

    This article examines the combined effects of inflation uncertainty and indexation on the growth rate of real gross national product (GN P). The evidence suggests that greater indexation partially reduces t he adverse effect of inflation uncertainty on real GNP growth over time. It also indicates that, in contrast to earlier findings regarding th e effect of inflation uncertainty on employment, the overall effect of inflation uncertainty on real GNP growth may be permanent. A preliminary assessment of whether the discrepancy is the result of in flation uncertainty permanently affecting the growth rate of the capi tal stock is inconclusive. Copyright 1988 by the University of Chicago.

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    Bibliographic Info

    Article provided by University of Chicago Press in its journal Journal of Business.

    Volume (Year): 61 (1988)
    Issue (Month): 4 (October)
    Pages: 473-84

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    Handle: RePEc:ucp:jnlbus:v:61:y:1988:i:4:p:473-84

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    Web page: http://www.journals.uchicago.edu/JB/

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    Cited by:
    1. Carlos Fernández, 2001. "Further Evidence on Friedman's Hypothesis," Latin American Journal of Economics-formerly Cuadernos de Economía, Instituto de Economía. Pontificia Universidad Católica de Chile., vol. 38(115), pages 257-273.
    2. Hakan Berument & Ebru Yuksel, 2007. "Effects of Adopting Inflation Targeting Regimes on Inflation Variability," Departmental Working Papers 0702, Bilkent University, Department of Economics.
    3. Nocetti, Diego & Smith, William T., 2011. "Price uncertainty, saving, and welfare," Journal of Economic Dynamics and Control, Elsevier, vol. 35(7), pages 1139-1149, July.
    4. Kevin B. Grier & Mark J. Perry, 2000. "The effects of real and nominal uncertainty on inflation and output growth: some garch-m evidence," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 15(1), pages 45-58.

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