Abstract
This paper evaluates empirically the effects of sector relative-price variability, and short-run and long-run inflation on the growth rate of real output in the United States since 1947. Also, permanent and transitory estimates are constructed to evaluate the effects of unanticipated movements in sector relative price on the growth rate of real output. The results show a statistically significant inverse relationship beween the growth rate of real output and transitory sector relative-price variability and anticipated long-run inflation, and a direct relationship between the growth rate of real output and unanticipated short-run inflation.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
