The Variance Hypothesis on the Output-Inflation Tradeoff: Evidence from Scandinavia
检验了方差假说，即产出-通胀权衡与名义总需求方差负相关。使用芬兰季度数据和斯堪的纳维亚国家年度跨国数据，时间序列支持假说，但跨国数据（尤其用Zellner似不相关回归）不支持。
This paper contains some further empirical tests of the variance hypothesis, according to which the output-inflation tradeoff varies inversely with the variance of nominal aggregate demand. Finnish quarterly data and annual cross-country data from the Scandinavian countries are used. Finnish time-series data are in conformity with the hypothesis, whereas the tests using cross-country data, particularly when Zellner's seemingly unrelated regression estimation procedure is applied, fail to indicate supporting evidence for the variance hypothesis.