The macroeconomic risks of undesirably low inflation
نویسندگان
چکیده
منابع مشابه
Cross-sectional evidence on the relation between monetary policy, macroeconomic conditions and low-frequency inflation uncertainty
We examine how the interaction between monetary policy and macroeconomic conditions affects inflation uncertainty in the long-term. The unobservable inflation uncertainty is quantified by means of the slowly evolving long-term variance component of inflation in the framework of the Spline-GARCH model (Engle and Rangel, 2008). For a cross-section of 13 developed economies, we find that long-term...
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ژورنال
عنوان ژورنال: European Economic Review
سال: 2016
ISSN: 0014-2921
DOI: 10.1016/j.euroecorev.2016.03.005