Testing Output-inflation Trade-off: A Note
This study estimates the Asai (1999) proposed simplified BMR model (Ball et al., 1988) and ARY model (Akerlof et al., 1988) using quarterly data from Malaysia, Thailand, Japan and US. Unlike other earlier authors, we ensure that our models’ residuals are free from serial correlation and ARCH effect...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
Researchgate
2006
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| Subjects: | |
| Online Access: | http://ir.unimas.my/id/eprint/17986/ http://ir.unimas.my/id/eprint/17986/7/Testing%20Output-inflation%20Trade-off%20%28abstract%29.pdf |
| _version_ | 1848838411103764480 |
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| author | Venus, Khim-Sen Liew Lim, Kian-Ping Puah, Chin Hong |
| author_facet | Venus, Khim-Sen Liew Lim, Kian-Ping Puah, Chin Hong |
| author_sort | Venus, Khim-Sen Liew |
| building | UNIMAS Institutional Repository |
| collection | Online Access |
| description | This study estimates the Asai (1999) proposed simplified BMR model (Ball et al., 1988) and ARY model (Akerlof et al., 1988) using quarterly data from Malaysia, Thailand,
Japan and US. Unlike other earlier authors, we ensure that our models’ residuals are free from serial correlation and ARCH effects. For the ARY model, Malaysia and US show strong evidence for new Keynesian model, while Thailand and Japan produce inconclusive results. As for the BMR model, all countries provide strong evidence for new Keynesian model. Our finding implies that government generally plays a significant role in altering the economy’s business cycle. Besides, this study suggests that future
researchers should do and report residuals diagnostic tests to show the viability of their results. |
| first_indexed | 2025-11-15T06:55:07Z |
| format | Article |
| id | unimas-17986 |
| institution | Universiti Malaysia Sarawak |
| institution_category | Local University |
| language | English |
| last_indexed | 2025-11-15T06:55:07Z |
| publishDate | 2006 |
| publisher | Researchgate |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | unimas-179862020-05-06T07:13:23Z http://ir.unimas.my/id/eprint/17986/ Testing Output-inflation Trade-off: A Note Venus, Khim-Sen Liew Lim, Kian-Ping Puah, Chin Hong H Social Sciences (General) This study estimates the Asai (1999) proposed simplified BMR model (Ball et al., 1988) and ARY model (Akerlof et al., 1988) using quarterly data from Malaysia, Thailand, Japan and US. Unlike other earlier authors, we ensure that our models’ residuals are free from serial correlation and ARCH effects. For the ARY model, Malaysia and US show strong evidence for new Keynesian model, while Thailand and Japan produce inconclusive results. As for the BMR model, all countries provide strong evidence for new Keynesian model. Our finding implies that government generally plays a significant role in altering the economy’s business cycle. Besides, this study suggests that future researchers should do and report residuals diagnostic tests to show the viability of their results. Researchgate 2006 Article PeerReviewed text en http://ir.unimas.my/id/eprint/17986/7/Testing%20Output-inflation%20Trade-off%20%28abstract%29.pdf Venus, Khim-Sen Liew and Lim, Kian-Ping and Puah, Chin Hong (2006) Testing Output-inflation Trade-off: A Note. The IUP Journal of Applied Economics, 5 (2). pp. 16-25. ISSN 0138-9130 https://www.researchgate.net/publication/5105040_NEW_EVIDENCE_ON_THE_OUTPUT-INFLATION_TRADE-OFF_FROM_ASEAN-5_ECONOMIES |
| spellingShingle | H Social Sciences (General) Venus, Khim-Sen Liew Lim, Kian-Ping Puah, Chin Hong Testing Output-inflation Trade-off: A Note |
| title | Testing Output-inflation Trade-off: A Note |
| title_full | Testing Output-inflation Trade-off: A Note |
| title_fullStr | Testing Output-inflation Trade-off: A Note |
| title_full_unstemmed | Testing Output-inflation Trade-off: A Note |
| title_short | Testing Output-inflation Trade-off: A Note |
| title_sort | testing output-inflation trade-off: a note |
| topic | H Social Sciences (General) |
| url | http://ir.unimas.my/id/eprint/17986/ http://ir.unimas.my/id/eprint/17986/ http://ir.unimas.my/id/eprint/17986/7/Testing%20Output-inflation%20Trade-off%20%28abstract%29.pdf |