Inflation uncertainty and a test of the Friedman hypothesis
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.
|Date of creation:||1985|
|Date of revision:|
|Publication status:||Published in Journal of Macroeconomics, Summer 1986, 8(3), pp. 365-72|
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