The Experts below are selected from a list of 32694 Experts worldwide ranked by ideXlab platform
Stilianos Fountas - One of the best experts on this subject based on the ideXlab platform.
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Is Macroeconomic uncertainty bad for Macroeconomic Performance? Evidence from five Asian countries
2007Co-Authors: Donal Bredin, Stilianos FountasAbstract: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.
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inflation uncertainty output growth uncertainty and Macroeconomic Performance
Oxford Bulletin of Economics and Statistics, 2006Co-Authors: Stilianos Fountas, Menelaos Karanasos, Jinki KimAbstract:We use a bivariate generalized autoregressive conditionally heteroskedastic (GARCH) model of inflation and output growth to examine the causality relationship among nominal uncertainty, real uncertainty and Macroeconomic Performance measured by the inflation and output growth rates. The application of the constant conditional correlation GARCH(1,1) model leads to a number of interesting conclusions. First, inflation does cause negative welfare effects, both directly and indirectly, i.e. via the inflation uncertainty channel. Secondly, in some countries, more inflation uncertainty provides an incentive to Central Banks to surprise the public by raising inflation unexpectedly. Thirdly, in contrast to the assumptions of some Macroeconomic models, business cycle variability and the rate of economic growth are related. More variability in the business cycle leads to more output growth.
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Inflation Uncertainty, Output Growth Uncertainty and Macroeconomic Performance
Oxford Bulletin of Economics and Statistics, 2006Co-Authors: Stilianos Fountas, Menelaos Karanasos, Jinki KimAbstract:We use a bivariate generalized autoregressive conditionally heteroskedastic (GARCH) model of inflation and output growth to examine the causality relationship among nominal uncertainty, real uncertainty and Macroeconomic Performance measured by the inflation and output growth rates. The application of the constant conditional correlation GARCH(1,1) model leads to a number of interesting conclusions. First, inflation does cause negative welfare effects, both directly and indirectly, i.e. via the inflation uncertainty channel. Secondly, in some countries, more inflation uncertainty provides an incentive to Central Banks to surprise the public by raising inflation unexpectedly. Thirdly, in contrast to the assumptions of some Macroeconomic models, business cycle variability and the rate of economic growth are related. More variability in the business cycle leads to more output growth. Copyright 2006 Blackwell Publishing Ltd.
Christopher Way - One of the best experts on this subject based on the ideXlab platform.
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Public Sector Unions, Corporatism, and Macroeconomic Performance:
Comparative Political Studies, 1999Co-Authors: Geoffrey Garrett, Christopher WayAbstract:What accounts for the apparent breakdown of the positive relationship between powerful trade union organizations and Macroeconomic Performance? Is corporatism a relic of a different age, a luxury o...
Geoffrey Garrett - One of the best experts on this subject based on the ideXlab platform.
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Public Sector Unions, Corporatism, and Macroeconomic Performance:
Comparative Political Studies, 1999Co-Authors: Geoffrey Garrett, Christopher WayAbstract:What accounts for the apparent breakdown of the positive relationship between powerful trade union organizations and Macroeconomic Performance? Is corporatism a relic of a different age, a luxury o...
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GOVERNMENT PARTISANSHIP, LABOR ORGANIZATION, AND Macroeconomic Performance
American Political Science Review, 1991Co-Authors: R. Michael Alvarez, Geoffrey Garrett, Peter LangeAbstract:Governments of the Left and Right have distinct partisan economic policies and objectives that they would prefer to pursue. Their propensity to do so, however, is constrained by their desire for reelection. We argue that the ability of governments to further their partisan interests and preside over reelectable Macroeconomic outcomes simultaneously is dependent on the organization of the domestic economy, particularly the labor movement. We hypothesize that there are two different paths to desirable Macroeconomic Performance. In countries with densely and centrally organized labor movements, leftist governments can promote economic growth and reduce inflation and unemployment. Conversely, in countries with weak labor movements, rightist governments can pursue their partisan-preferred Macroeconomic strategies and achieve similarly beneficial Macroeconomic outcomes. Performance will be poorer in other cases. These hypotheses are supported by analysis of pooled annual time series data for 16 advanced industrial democracies between 1967 and 1984.
Jinki Kim - One of the best experts on this subject based on the ideXlab platform.
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inflation uncertainty output growth uncertainty and Macroeconomic Performance
Oxford Bulletin of Economics and Statistics, 2006Co-Authors: Stilianos Fountas, Menelaos Karanasos, Jinki KimAbstract:We use a bivariate generalized autoregressive conditionally heteroskedastic (GARCH) model of inflation and output growth to examine the causality relationship among nominal uncertainty, real uncertainty and Macroeconomic Performance measured by the inflation and output growth rates. The application of the constant conditional correlation GARCH(1,1) model leads to a number of interesting conclusions. First, inflation does cause negative welfare effects, both directly and indirectly, i.e. via the inflation uncertainty channel. Secondly, in some countries, more inflation uncertainty provides an incentive to Central Banks to surprise the public by raising inflation unexpectedly. Thirdly, in contrast to the assumptions of some Macroeconomic models, business cycle variability and the rate of economic growth are related. More variability in the business cycle leads to more output growth.
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Inflation Uncertainty, Output Growth Uncertainty and Macroeconomic Performance
Oxford Bulletin of Economics and Statistics, 2006Co-Authors: Stilianos Fountas, Menelaos Karanasos, Jinki KimAbstract:We use a bivariate generalized autoregressive conditionally heteroskedastic (GARCH) model of inflation and output growth to examine the causality relationship among nominal uncertainty, real uncertainty and Macroeconomic Performance measured by the inflation and output growth rates. The application of the constant conditional correlation GARCH(1,1) model leads to a number of interesting conclusions. First, inflation does cause negative welfare effects, both directly and indirectly, i.e. via the inflation uncertainty channel. Secondly, in some countries, more inflation uncertainty provides an incentive to Central Banks to surprise the public by raising inflation unexpectedly. Thirdly, in contrast to the assumptions of some Macroeconomic models, business cycle variability and the rate of economic growth are related. More variability in the business cycle leads to more output growth. Copyright 2006 Blackwell Publishing Ltd.
Robert J. Flanagan - One of the best experts on this subject based on the ideXlab platform.
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Macroeconomic Performance and Collective Bargaining: An International Perspective
Journal of Economic Literature, 1999Co-Authors: Robert J. FlanaganAbstract:This paper critically reviews the research on how collective bargaining systems influence Macroeconomic Performance in industrialized countries. The review considers effects of bargaining level, coordination, and corporatist institutional arrangements. Key empirical results turn out to be quite fragile, and much of the paper explores issues of measurement and specification that account for the fragility. The paper concludes that complementarities between key institutions and between institutions and the economic environment may be more important for Macroeconomic Performance than the effects of individual institutions, and it suggests research strategies.
