Inflation, Inflation Uncertainty and Output in Tunisia
Inflation, Inflation Uncertainty and Output in Tunisia
This study investigates the relationship between inflation, inflation uncertainty and output in Tunisia using real and nominal data. GARCH-in-mean model with lagged variance equation is employed for the analysis. The result shows that inflation uncertainty has a positive and significant effect on the level of inflation only in the real term. Moreover, inflation uncertainty Granger-causes inflation and economic growth respectively. These results have important implications for the monetary policy in Tunisia.
output, ddc:330, GARCH-M model,inflation,inflation uncertainty,output, Social Sciences, GARCH-M model, H, inflation uncertainty, Economics as a science, inflation, HB71-74, C22, E31, jel: jel:C22, jel: jel:E31
output, ddc:330, GARCH-M model,inflation,inflation uncertainty,output, Social Sciences, GARCH-M model, H, inflation uncertainty, Economics as a science, inflation, HB71-74, C22, E31, jel: jel:C22, jel: jel:E31
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