A Note on the Dynamics of Persistence in US Inflation
Empirical research on the degree and stability of inflation persistence in the US has produced mixed results: some suggest high and unchanged persistence during the last few decades, while others argue in favor of a decline in persistence since the early 1980s. We show that post-WWII US inflation (monthly and quarterly) 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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| Date of creation: | Aug 2008 |
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| Handle: | RePEc:bdm:wpaper:2008-12 |
| Contact details of provider: | Web page: http://www.banxico.org.mx More information through EDIRC
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