Dynamic Linkages between Output Growth and Macroeconomic Volatility: Evidence using Greek Data

International Journal of Economic Research, Vol. 2, Issue 1, 152-165, 2011

14 Pages Posted: 6 Jan 2013

See all articles by Xanthippi Chapsa

Xanthippi Chapsa

Technological Educational Institute of Serres

Constantinos Katrakilidis

Aristotle University of Thessaloniki - Department of Economics

Nicholas Tabakis

Alexander Technological Educational Institute of Thessaloniki - Department of Agricultural Development and Agribusiness Management

Date Written: 2011

Abstract

This paper provides empirical evidence regarding the causal links between macroeconomic uncertainty and output growth using Greek data. Uncertainty is considered in distinct components, namely the inflation uncertainty and the output growth uncertainty. The results reveal significant negative causal effects on output growth running from output growth uncertainty as well as from inflation uncertainty indirectly via the inflation rate.

Keywords: Growth, Uncertainty, Cointegration, GARCH, Granger-causality

JEL Classification: C33, C53, O52, E32

Suggested Citation

Chapsa, Xanthippi and Katrakilidis, Constantinos and Tabakis, Nicholas, Dynamic Linkages between Output Growth and Macroeconomic Volatility: Evidence using Greek Data (2011). International Journal of Economic Research, Vol. 2, Issue 1, 152-165, 2011, Available at SSRN: https://ssrn.com/abstract=1954579

Xanthippi Chapsa

Technological Educational Institute of Serres ( email )

TEI of Serres, Terma Magnesias
Serres, 62124
Greece

Constantinos Katrakilidis (Contact Author)

Aristotle University of Thessaloniki - Department of Economics ( email )

Thessaloniki, 54124
Greece

HOME PAGE: http://users.auth.gr/katrak

Nicholas Tabakis

Alexander Technological Educational Institute of Thessaloniki - Department of Agricultural Development and Agribusiness Management ( email )

P.O. Box 141
Sindos Thessaloniki, GR-57400
Greece

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