This paper examines the relationship between inflation and real income in Australia, Canada, Finland, New Zealand, Spain, Sweden and the UK which have adopted a “formal” policy of low or zero inflation target. Using cointegration analysis and a vector error correction model (VECM)), we find...

This paper examines the relationship between inflation and real income in Australia, Canada, Finland, New Zealand, Spain, Sweden and the UK which have adopted a “formal” policy of low or zero inflation target. Using cointegration analysis and a vector error correction model (VECM)), we find...

Purpose – The purpose of this paper is to determine the relationship between inflation, inflation uncertainty, growth and growth uncertainty for Australia. Design/methodology/approach – Multivariate EGARCH models has been used to estimate the relationship between inflation, inflation...

Purpose – The purpose of this paper is to determine the relationship between inflation, inflation uncertainty, growth and growth uncertainty for Australia. Design/methodology/approach – Multivariate EGARCH models has been used to estimate the relationship between inflation, inflation...