Caporale, Guglielmo; Onorante, Luca; Paesani, Paolo - In: Empirical Economics 43 (2012) 2, pp. 597-615
This article estimates a time-varying AR-GARCH model of inflation producing measures of inflation uncertainty for the … change associated with the start of EMU in 1999. The main findings are as follows. Steady-state inflation and inflation … Friedman-Ball link is empirically supported, consistently with the idea that the ECB can achieve lower inflation uncertainty by …