In contrast to conventional conditional mean approaches, this study uses quantile regression techniques to present some new statistical evidence on the link between inflation uncertainty and the level of inflation with cross sectional data in 161 countries for period from 1961-2002. We find new evidence that suggests positive inflation shocks have stronger impacts on inflation uncertainty acros...

This paper was aimed at investigating the volatility and conditional relationship among inflation rates, exchange rates and interest rates as well as to construct a model using multivariate GARCH DCC and BEKK models using Ghana data from January 1990 to December 2013. The study revealed that the cumulative depreciation of the cedi to the US dollar from 1990 to 2013 is 7,010.2% and the yearly we...

Economists often comment that inflation will tend to increase (or decrease) if growth is higher or lower than the 'potential' growth rate of the the economy. After setting out a theoretical justification for such a relationship we estimate equations relating the change in inflation to growth rates for the US, Canada and Australia. Our system also allows for the possibility that traded goods pri...

This explanation has been articulated in a number of recent papers. See, for example, Azariadis and Smith (forthcoming), Boyd and Smith (forthcoming), and Schreft and Smith (forthcoming and 1994). A consensus among economists seems to be that high rates of inflation cause " problems, " not just for some individuals, but for aggregate economic performance. There is much less agreement about what...

T his paper investigates the asymmetric behavior of inflation. We use logistic smooth transition autoregressive (LSTAR) model to characterize the regime-switching behavior of Iran’s monthly inflation during the period May 1990 to December 2013. We find that there is a triple relationship between the inflation level, its fluctuations and persistence. The findings imply that the behavi...