In this paper a comparative study of the regime shift in inflation policies in New Zealand and Sweden is performed. A nonparametric regression method is used to decompose the inflation time series into three components of variation: a long-term trend, a medium-term (cyclical and transient...

In this paper, we use a non-parametric regression method to compare the transition process from high to low inflation with the implementation dates of central bank independence reforms. In most countries, price stability is achieved before more independence is given to the central bank....

In this paper, we use a non-parametric regression method to compare the transition process from high to low inflation with the implementation dates of central bank independence reforms. In most countries, price stability is achieved before more independence is given to the central bank....

In this paper a comparative study of the regime shift in inflation policies in New Zealand and Sweden is performed. We use a non-parametric regression method to decompose the inflation time series into three components of variation: a long-term trend, a medium-term (cyclical and transient...