Permanent and temporary inflation uncertainty and investment in the United States

被引：43

作者：

Byrne, JP

Davis, EP

机构：

[1] Univ Strathclyde, Dept Econ, Glasgow G4 0LN, Lanark, Scotland

[2] Brunel Univ, Uxbridge, Middx, England

[3] Natl Inst Econ & Social Res, London, England

来源：

ECONOMICS LETTERS | 2004年 / 85卷 / 02期

关键词：

investment; permanent and temporary uncertainty; Markov switching;

D O I：

10.1016/j.econlet.2004.04.015

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

We estimate the impact on US non-residential fixed investment of permanent and temporary inflation uncertainty. We find that while both have a negative effect, temporary uncertainty is more important for investment. This study has implications for monetary policy and applied-econometric practice. (C) 2004 Elsevier B.V. All rights reserved.

引用

页码：271 / 277

页数：7

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