Narayan, Paresh Kumar; Narayan, Seema - Deakin University, Faculty of Business and Law, School … - 2011
In this paper we study the relationship between output and inflation for India, Brazil, and South Africa using the EGARCH model. For India and South Africa, we find evidence for: (1) the Cukierman and Meltzer hypothesis that inflation volatility raises inflation; (2) the Friedman hypothesis that...