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https://ah.lib.nccu.edu.tw/handle/140.119/73953
題名: | Nonlinear relationship between inflation and inflation uncertainty in Taiwan | 作者: | Shen, Chung-Hua;Chen, Shyh-Wei;Xie, Zixiong 沈中華 |
貢獻者: | 金融系 | 關鍵詞: | Inflation Uncertainty; Regression Model | 日期: | 2006 | 上傳時間: | 23-Mar-2015 | 摘要: | Using Taiwan data, the study employs Hamilton`s (2001) flexible regression model to investigate the relationship between inflation and inflation uncertainty. The results convincingly support Friedman`s hypothesis that a rise in the inflation rate increases inflation uncertainty. This result, however, holds only in a positive inflation regime. When the inflation rate is in a negative inflation regime, one clearly notes that a drop in the inflation rate also increases inflation uncertainty. Thus Friedman`s argument is complemented by advocating that a rise in the absolute inflation rate increases inflation uncertainty. Turning to Cukierman-Meltzer`s hypothesis, both linear and nonlinear inflation uncertainties affect the inflation rate, where the former has positive but the latter has negative effects. | 關聯: | Applied Economics Letters - APPL ECON LETTERS , vol. 13, no. 8, pp. 529-533 | 資料類型: | article | DOI: | http://dx.doi.org/10.1080/13504850500400405 |
Appears in Collections: | 期刊論文 |
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