the frequency ù=0 has exhibited little variationbeing, most of the time, close to onein the U.S., the U.K., and several … U.S., the U.K., and several other countries, thus
implying that the fraction of inflation’s long-run variation … Batini and Nelson (2002)
based on the analysis of raw U.K. and U.S. data since the Gold Standard. As discussed in Batini and …