Granger causality in phillips curves

dc.contributor.author	Λαλιώτης, Ιωάννης	el
dc.contributor.author	Σκλαβάκης, Ιωάννης	el
dc.contributor.author	Μπάρτζης, Νικόλαος	el
dc.date.accessioned	2015-01-30T15:03:22Z
dc.date.available	2015-01-30T15:03:22Z
dc.date.issued	2015-01-30
dc.identifier.uri	http://hdl.handle.net/11400/5146
dc.rights	Αναφορά Δημιουργού-Μη Εμπορική Χρήση-Όχι Παράγωγα Έργα 3.0 Ηνωμένες Πολιτείες	*
dc.rights.uri	http://creativecommons.org/licenses/by-nc-nd/3.0/us/	*
dc.subject	economic analysis
dc.subject	Econometric Model
dc.subject	Οικονομική ανάλυση
dc.subject	Εμπειρική ανάλυση
dc.subject	Οικονομετρικό μοντέλο
dc.subject	Empirical analysis
dc.title	Granger causality in phillips curves	en
heal.type	conferenceItem
heal.secondaryTitle	does inflation run from output to prices or prices to output in greece? a preliminary econometric model	en
heal.generalDescription	ISSN Σειράς Πρακτικών: 1791 – 8499	el
heal.generalDescription	Proceedings Series: 1791 - 8499	en
heal.classification	Economics
heal.classification	Inflation
heal.classification	Οικονομία
heal.classification	Πληθωρισμός
heal.classificationURI	http://id.loc.gov/authorities/subjects/sh85040850
heal.classificationURI	http://lod.nal.usda.gov/28678
heal.classificationURI	N/A-Οικονομία
heal.classificationURI	N/A-Πληθωρισμός
heal.keywordURI	http://lod.nal.usda.gov/20571
heal.keywordURI	http://zbw.eu/stw/descriptor/15376-1
heal.contributorName	Φράγκος, Χρήστος Κ. (1949-) (επιμ.)	el
heal.language	en
heal.access	campus
heal.recordProvider	Τεχνολογικό Εκπαιδευτικό Ίδρυμα Αθήνας. Σχολή Διοίκησης και Οικονομίας. Τμήμα Διοίκησης Επιχειρήσεων. Κατεύθυνση Διοίκησης Επιχειρήσεων.	el
heal.publicationDate	2009-05
heal.bibliographicCitation	Laliotis, I., Sklavakis, N. and Bartzis, N. (2009). Granger causality in phillips curves: does inflation run from output to prices or prices to output in greece? a preliminary econometric model. In Proceedings of the 2nd International Conference: Quantitative and Qualitative Methodologies in the Economic and Administrative Sciences. Athens, 25th to 27th May 2009. Athens: TEI of Athens. pp. 294-297.	en
heal.abstract	The aim of this paper is to examine the existence and direction of the relation between output and prices in Greece, in a short-run Granger causal sense, over the period 1986Q1-2005Q4. More specifically, the Granger causality test is employed in order to specify the direction of causality between the output gap and the surprise inflation. The expected inflation was estimated using a dummy variable in order to capture the shift of the regime after the adoption of the common currency. Next, we employed a number of recently developed time series econometric techniques such as unit root testing and multivariate cointegration. A first indication of a causal relationship between prices and output appeared after the estimation of two specifications of the Phillips, namely a New Keynesian Phillips Curve and a Lucas Aggregate Supply Function, including an exchange rate term as a second driving variable in both the formulations which, however, was found not to be statistically significant. The indication of a unidirectional causal relationship running from prices to output was further strengthened after computing the Granger test for causality.	en
heal.publisher	Τεχνολογικό Εκπαιδευτικό Ίδρυμα Αθήνας	el
heal.publisher	TEI of Athens	en
heal.fullTextAvailability	true
heal.conferenceName	2nd International Conference: Quantitative and Qualitative Methodologies in the Economic and Administrative Sciences	el
heal.conferenceItemType	full paper