Stabilization, Persistence, and Inflationary Convergence: A Comparative Analysis
AbstractThe purpose of this paper is to analyze empirically the importance of inflationary persistence in a group of sixteen advanced and developing countries. We do this by studying, in great detail, the time series properties of inflation using both univariate as well as multivariate techniques. We show that inflationary inertia greatly varies both across countries and across different periods of time within a country. Moreover, there seems to exists a clear connection between our estimates of inertia and the levels of inflation in the countries in our sample. Nominal exchange rate anchors seem to reduce inflation inertia but only until time goes by and the program fails to lower inflation to international levels.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by Central Bank of Chile in its series Working Papers Central Bank of Chile with number 37.
Date of creation: Dec 1998
Date of revision:
Other versions of this item:
- Sebastián Edwards & Fernando Lefort, 2002. "Stabilization, Persistence, and Inflationary Convergence: A Comparative Analysis," Central Banking, Analysis, and Economic Policies Book Series, in: Fernando Lefort & Klaus Schmidt-Hebbel & Norman Loayza (Series Editor) & Klaus Schmidt-Hebbel (Serie (ed.), Indexation, Inflation and Monetary Policy, edition 1, volume 2, chapter 3, pages 065-104 Central Bank of Chile.
You can help add them by filling out this form.
reading list or among the top items on IDEAS.Access and download statisticsgeneral information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Claudio Sepulveda).
If references are entirely missing, you can add them using this form.