Real effects of inflation uncertainty in the US
We empirically investigate the effects of inflation uncertainty on output growth for the US between 1960 and 2012. Modeling output dynamics within a Markov regime switching framework, we provide evidence that inflation uncertainty exerts a negative and regime dependent impact on output growth. A battery of sensitivity checks confirm our findings.
|Date of creation:||Feb 2011|
|Date of revision:||Feb 2015|
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