The dynamics of persistence in US inflation
AbstractUsing a recently developed time-series approach, we show that post-WWII US inflation became highly persistent during the 'Great Inflation' period, and then switched back to a low persistence process during 1984, and has remained stationary until the present day.
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Bibliographic InfoArticle provided by Elsevier in its journal Economics Letters.
Volume (Year): 105 (2009)
Issue (Month): 2 (November)
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Web page: http://www.elsevier.com/locate/ecolet
Inflation Multiple change in persistence Stationarity Great Inflation;
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