Causal Nexus between Inflation and Economic Growth of Japan | ||
| Iranian Economic Review | ||
| مقاله 2، دوره 19، شماره 3، 2015، صفحه 265-278 اصل مقاله (295.91 K) | ||
| نوع مقاله: Research Paper | ||
| شناسه دیجیتال (DOI): 10.22059/ier.2015.56846 | ||
| نویسندگان | ||
| Shailender Singh* 1؛ Amar Singh2 | ||
| 1Associate Professor, Department of International Finance, I-Shou University, Taiwan | ||
| 2Assistant Professor, Department of Commerce, GraphicEra Hill University, Uttarakhand, India | ||
| چکیده | ||
| This study aims to evaluate the link between economic growth and consumer price index (CPI) in Japan for the period of 1980-2014. Initial series were adjusted for stationarity using the Augmented Dickey- Fuller (ADF) test for unit root followed by the application of Johansen Co-integration Test in order to examine the long-run relationship among the variables, while the causalities were evaluated using Granger Causality model. The empirical results reveal that economic growth and CPI are co-integrated and thus exhibit a long-run relationship between the variables. The Granger causality test supports bi-directional causality between economic growth and CPI in Japan. The paper adopts a time series framework of the Vector Error Correlation Models (VECM) to study the dynamic relationship between economic growth and consumer price index for Japan. | ||
| کلیدواژهها | ||
| Co-integration؛ consumer price index؛ economic growth؛ Granger causality test؛ Inflation؛ Vector error correction | ||
| مراجع | ||
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