Empirical support for the long-run Fisher effect, a hypothesis that a permanent change in inflation leads to an equal … to the inflation rate following a monetary shock has not occurred in the industrialized countries of Australia, Austria … United Kingdom, and the United States. Instead, this paper shows that inflation in these countries follows a mean …

ability to describe the US inflation data. Specifically, the model allows for long memory in the conditional mean formulation … yields a good description of the salient features, including skewness and heteroskedasticity, of the US inflation data …

ability to describe the US inflation data. Specifically, the model allows for long memory in the conditional mean formulation … yields a good description of the salient features, including skewness and heteroskedasticity, of the US inflation data …

Several central banks have adopted inflation targets. The implementation of these targets is flexible; the central … banks aim to meet the target over the long term but allow inflation to deviate from the target in the short-term in order to … AFRIMA model. Under the assumption that the central bankers control the long-run inflation rates, the fractional integration …