Working Paper
Inflation uncertainty and a test of the Friedman hypothesis
Abstract: This paper tests Friedman's (1977) hypothesis that increases in inflation uncertainty, ceteris paribus, may yield higher levels of unemployment. Tests are made using quarterly measures of inflation uncertainty taken from the ASA-NBER survey. Using the 1972-1984 period, we find general support for the hypothesis.
Status: Published in Journal of Macroeconomics, Summer 1986, 8(3), pp. 365-72
Access Documents
File(s): File format is application/pdf http://research.stlouisfed.org/wp/1985/1985-006.pdf
Authors
Bibliographic Information
Provider: Federal Reserve Bank of St. Louis
Part of Series: Working Papers
Publication Date: 1985
Number: 1985-006