Ayuso, Juan; Kaminsky, Graciela L.; López-Salido, David - In: Investigaciones Economicas 27 (2003) 3, pp. 615-631
After reaching high levels in the 1970s and 1980s, inflation in Spain is significantly lower in the early 2000s. This paper estimates a switching-regime model for that variable. Our results point towards the existence of three regimes across which the average and the volatility of inflation are...