Anticipating Future Expected Utility and Coordination Motives for Information Decisions in Networks
This paper investigates empirically the relationship between inflation, inflation volatility and output growth in the case of México using monthly data over the period 1993-2011. Specifically a bivariate GARCH-M model is estimated to test the hypotheses that inflation rates are directly related to inflation volatility, and that inflation volatility affects negatively output growth. It is found that higher inflation rates are associated to higher inflation volatility which in turn affects negatively output growth. These results suggest that policies aimed to reduce inflation could have beneficial effects on growth through the specific channel of reducing inflation volatility.
|Date of creation:||Sep 2012|
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- Jeanne Hagenbach & Frédéric Koessler, 2010.
"Strategic Communication Networks,"
Review of Economic Studies,
Oxford University Press, vol. 77(3), pages 1072-1099.
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- Jeanne Hagenbach & Frédéric Koessler, 2009. "Strategic Communication Networks," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00367692, HAL.
- Rafael Di Tella & Sebastian Galiant & Ernesto Schargrodsky, 2007. "The Formation of Beliefs: Evidence from the Allocation of Land Titles to Squatters," The Quarterly Journal of Economics, Oxford University Press, vol. 122(1), pages 209-241.
- David P. Myatt & Chris Wallace, 2012. "Endogenous Information Acquisition in Coordination Games," Review of Economic Studies, Oxford University Press, vol. 79(1), pages 340-374.
- David P. Myatt & Chris Wallace, 2009. "Endogenous Information Acquisition in Coordination Games," Economics Series Working Papers 445, University of Oxford, Department of Economics.
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