Is macroeconomic uncertainty bad for macroeconomic performance? Evidence from five Asian countries

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dc.contributor.author Bredin, Donal
dc.contributor.author Fountas, Stilianos
dc.date.accessioned 2009-06-11T16:19:56Z
dc.date.available 2009-06-11T16:19:56Z
dc.date.copyright 2007, Centre for Financial Markets en
dc.date.issued 2007-03
dc.identifier.uri http://hdl.handle.net/10197/1178
dc.description.abstract We use a very general bivariate GARCH-M model and quarterly data for five Asian countries to test for the impact of real and nominal macroeconomic uncertainty on inflation and output growth. Our evidence supports a number of important conclusions. First, in the majority of countries uncertainty regarding the output growth rate is related negatively to the average growth rate. Second, contrary to expectations, inflation uncertainty in most cases does not harm the output growth performance of an economy. Third, inflation and output uncertainty have a mixed effect on inflation. These results imply that macroeconomic uncertainty may even improve macroeconomic performance, i.e., raise output growth and reduce inflation. en
dc.format.extent 175402 bytes
dc.format.mimetype application/pdf
dc.language.iso en en
dc.publisher University College Dublin. School of Business. Centre for Financial Markets en
dc.relation.ispartofseries Centre for Financial Markets working paper series en
dc.relation.ispartofseries WP-07-04 en
dc.subject Inflation en
dc.subject Output growth en
dc.subject Macroeconomic uncertainty en
dc.subject GARCH models en
dc.subject.classification C22 en
dc.subject.classification C51 en
dc.subject.classification C52 en
dc.subject.classification E0 en
dc.subject.lcsh Time-series analysis en
dc.subject.lcsh Inflation--Econometric models en
dc.subject.lcsh Economic development--Econometric models en
dc.subject.lcsh Macroeconomics en
dc.title Is macroeconomic uncertainty bad for macroeconomic performance? Evidence from five Asian countries en
dc.type Working Paper en
dc.internal.availability Full text available en
dc.internal.webversions Publisher's version en
dc.internal.webversions http://www.ucd.ie/bankingfinance/docs/wp/AsianGARCH%20bredin%20wp%2007%2004.pdf en
dc.status Not peer reviewed en
dc.neeo.contributor Bredin|Donal|aut|
dc.neeo.contributor Fountas|Stilianos|aut|


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