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Modelling inflation shifts and persistence in Tunisia: perspectives from an evolutionary spectral approach

Author

Listed:
  • Zied Ftiti
  • Khaled Guesmi
  • Nguyen
  • Fr餩ric Teulon

Abstract

This article examines the dynamic characteristics of the inflation rate in Tunisia over the last two decades, and particularly following the onset of the Arab Spring in 2010 which causes distortions in this country's monetary policy. We focus on the two specific dimensions of the Tunisian inflation rate: inflation regimes and persistence. We tackle this issue by adopting an evolutionary spectral approach, initially proposed by Priestley and Tong (1973). Our main findings indicate a stable inflation regime in the last 10 years, with an average inflation rate of around 5.5%. It is also found that the Tunisian inflation experienced a high degree of inertia which reflects its gradual responses to shocks. We also discuss the policy implications of these results, which typically require policy-makers to implement sound institutional reforms to reduce inflation.

Suggested Citation

  • Zied Ftiti & Khaled Guesmi & Nguyen & Fr餩ric Teulon, 2015. "Modelling inflation shifts and persistence in Tunisia: perspectives from an evolutionary spectral approach," Applied Economics, Taylor & Francis Journals, vol. 47(57), pages 6200-6210, December.
    • Handle: RePEc:taf:applec:v:47:y:2015:i:57:p:6200-6210
    DOI: 10.1080/00036846.2015.1068918
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    1. repec:ipg:wpaper:2014-474 is not listed on IDEAS
    2. repec:ipg:wpaper:2014-557 is not listed on IDEAS
    3. repec:ipg:wpaper:2014-471 is not listed on IDEAS
    4. Nidhal Mgadmi & Houssem Rachdi & Hichem Saidi & Khaled Guesmi, 2019. "On the Instability of Tunisian Money Demand: Some Empirical Issues with Structural Breaks," Journal of Quantitative Economics, Springer;The Indian Econometric Society (TIES), vol. 17(1), pages 153-165, March.
    5. Boukraine, Wissem, 2020. "Inflation dynamics in Tunisia: a smooth transition autoregressive approach," MPRA Paper 101886, University Library of Munich, Germany.
    6. repec:ipg:wpaper:2014-516 is not listed on IDEAS
    7. repec:ipg:wpaper:2014-548 is not listed on IDEAS
    8. repec:ipg:wpaper:2014-558 is not listed on IDEAS
    9. Bouri, Elie & Gabauer, David & Gupta, Rangan & Kinateder, Harald, 2023. "Global geopolitical risk and inflation spillovers across European and North American economies," Research in International Business and Finance, Elsevier, vol. 66(C).
    10. repec:ipg:wpaper:2014-475 is not listed on IDEAS
    11. repec:ipg:wpaper:2014-504 is not listed on IDEAS
    12. repec:ipg:wpaper:2014-492 is not listed on IDEAS
    13. repec:ipg:wpaper:2014-562 is not listed on IDEAS
    14. repec:ipg:wpaper:2014-461 is not listed on IDEAS
    15. Elie Bouri & David Gabauer & Rangan Gupta & Harald Kinateder, 2023. "Geopolitical Risk and Inflation Spillovers across European and North American Economies," Working Papers 202304, University of Pretoria, Department of Economics.
    16. repec:ipg:wpaper:2014-390 is not listed on IDEAS

    More about this item

    JEL classification:

    • C1 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General
    • C14 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Semiparametric and Nonparametric Methods: General
    • C5 - Mathematical and Quantitative Methods - - Econometric Modeling
    • C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
    • E3 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook
    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General

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