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Inflation persistence: Implication for a monetary union in the Caribbean

  • Juan Carlos Cuestas


    (Department of Economics, The University of Sheffield)

  • Carlyn Dobson


    (Division of Economics, Nottingham trent University)

In this paper we aim to shed some light on the potential for creating a monetary union in the Caribbean. We analyse the inflation rates for twelve countries using various time series methods. The results show that the inflation rates are mean reverting processes and that there is evidence of a convergence club in inflation rates within the area, which contradicts previous studies. Our contribution implies good news for the creation of a common central bank in the Caribbean.

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File Function: First version, 2011
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Paper provided by The University of Sheffield, Department of Economics in its series Working Papers with number 2011017.

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Length: 24 pages
Date of creation: Aug 2011
Date of revision:
Handle: RePEc:shf:wpaper:2011017
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