Nobel Lecture: Inflation and Unemployment

By M. Friedman. 1977

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Citations in the corpus

Political instability and inflation volatility (2006, background): “This is because higher inflation levels are typically associated with higher inflation volatility. 1 Friedman (1977) attempted to shed”
The Euro and Inflation Uncertainty in the European Monetary Union (2009, methodology): “Consistently with the hypothesis put forward by Friedman (1977) and formalised by Ball (1992), the coefficient of past inflation, γ2, is positive and significant in six out of our twelve sample countries in the steady-state uncertainty regressions, i.e. in the case of France, Italy, Portugal,…”
Tax Structure and Growth: Are Some Taxes Better Than Others? (2001, background): “Friedman (1977) suggests that a substantial variability in the inflation rate obscures the information content of prices, thereby reducing economic activity and retarding economic growth.”
Inflation and Inflation Uncertainty in the United Kingdom: Evidence from GARCH modelling (2003, background): “Friedman (1977) suggests a positive correlation between the level of inflation”
Inflation, Inflation Uncertainty and a Common European Monetary Policy (2004, unknown): “Our approach allows us to distinguish between the direct costs of inflation and those that arise via the inflation uncertainty channel, as predicted by Friedman (1977).”
An Introduction to Univariate GARCH Models (2006, methodology): “According to Engle (2004), the original idea was to nd a model that could assess the validity of the conjecture of Friedman (1977) that the unpredictability of in ation was a primary cause of business cycles.”
Re-examining inflation and inflation uncertainty in developed and emerging countries (2005, background): “According to Friedman (1977), high inflation will create political pressure to reduce it, but policy makers may fear recessionary effects and therefore be reluctant to lower inflation, resulting in future inflation uncertainty.”
An Impulse-Response Function for a Vector Autoregression with Multivariate-Garch-In-Mean (2002, background): “This latter channel has been the topic of considerable theoretical research (see, for example, Dotsey and Sarte (2000) and Friedman (1977)) as well as empirical research (see, for example Grier and Perry (2000) and Elder (2003)).”
The Stochastic Volatility in Mean Model With Time-Varying Parameters: An Application to Inflation Modeling (2017, background): “as first postulated in the Nobel lecture of Friedman (1977) and”
Inflation, output growth, and nominal and real uncertainty: Empirical evidence for the G7 (2007, background): “…2 are summarized in the following table: Testable hypotheses e theories Sign of the effect (1) Inflation Granger-causes inflation uncertainty Friedman (1977), Ball (1992) þ Pourgerami and Maskus (1987), Ungar and Zilberfarb (1993) (2) Inflation uncertainty Granger-causes output growth…”
Effect of financial development on economic growth in sub-Saharan Africa (2018, background): “Friedman (1977) has long argued that higher inflation rates reallocate scarce resources to unproductive activities thus reducing output growth.”
Economic uncertainty and bank risk: Evidence from emerging economies (2020, unknown): “Seemingly consistent with the insight of Friedman (1977) that the uncertainty on price level could make it more difficult to extract information from the price system and thus undermines economic efficiency, our results indicate that the riskiness of banks is more sensitive to the variation of…”
Political risk and capital flight (2006, background): “Hayek (1944), Lucas (1972), Friedman (1977), and De Gregorio (1993) argue that inflation causes uncertainty about prices, so we utilize the variance of inflation as a second measure of economic risk.”