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Looking for a break in Spanish Inflation Data in the early eighties and assessing persistence

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  • Maria Teresa Mota

    (Faculdade de Economia e Gestão - Universidade Católica Portuguesa - Porto)

  • Mariana Alves da Cunha

    (Faculdade de Economia e Gestão - Universidade Católica Portuguesa - Porto)

  • Carlos Santos

    ()
    (Faculdade de Economia e Gestão - Universidade Católica Portuguesa - Porto)

Abstract

Using the Bai-Perron test, we look for a shift in the conditional mean of an AR representation of Spanish CPI inflation over the period: 1978-2006. It is clear that Spain, as most OECD economies, experienced an inflation slowdown in the early eithgties, which can be related to some policy measures undertook by the government coming out of the 1982 elections. It is shown, that when the break is accounted for, there are no signs of persistence in Spanish CPI inflation.

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File URL: http://www.porto.ucp.pt/feg/repec/WP/022008%20-%20Mota%20Cunha%20Santos%20-%20Looking%20for%20a%20break%20in%20Spanish%20Inflation%20Data.pdf
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Bibliographic Info

Paper provided by Faculdade de Economia e Gestão, Universidade Católica Portuguesa (Porto) in its series Working Papers de Economia (Economics Working Papers) with number 022008.

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Length: 12 pages
Date of creation: Feb 2008
Date of revision:
Handle: RePEc:cap:wpaper:022008

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Related research

Keywords: inflation persistence; structural breaks; monetary policy;

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  1. Levin, Andrew T. & Piger, Jeremy M., 2004. "Is inflation persistence intrinsic in industrial economies?," Working Paper Series 0334, European Central Bank.
  2. Robalo Marques, Carlos, 2004. "Inflation persistence: facts or artefacts?," Working Paper Series 0371, European Central Bank.
  3. Maria Alberta Oliveira & Carlos Santos, 2010. "Looking for a change point in French monetary policy in the early eighties," Applied Economics Letters, Taylor & Francis Journals, vol. 17(4), pages 387-392.
  4. Andrews, Donald W K & Chen, Hong-Yuan, 1994. "Approximately Median-Unbiased Estimation of Autoregressive Models," Journal of Business & Economic Statistics, American Statistical Association, vol. 12(2), pages 187-204, April.
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