. Persistence of seventy-five inflation series at various aggregation levels are examined by estimating models that allow long …. Thus, the paper finds evidence of spurious long memory due to aggregation …

aggregation biases estimates of monetary policy transmission. We argue that the information mismatch between private agents and … the econometrician —the source of temporal aggregation bias —is equally important as the more studied mismatch between … policy model and show how temporal aggregation bias can exacerbate initial impulse response functions. Because our modeling …

This paper considers the problem of aggregation in the case of large linear dynamic panels, where each micro unit is … Pesaran (2003), an optimal aggregate function is derived, and the limiting behavior of the aggregation error is investigated … which ‘observed' inflation persistence at the aggregate level is due to aggregation and/or common unobserved factors. Our …

that the more aggregate the data, the closer the distribution to perfect staggering. This result holds for both aggregation …

This paper considers the problem of aggregation in the case of large linear dynamic panels, where each micro unit is … Pesaran (2003), an optimal aggregate function is derived, and the limiting behavior of the aggregation error is investigated … which ﾑobservedﾒ inflation persistence at the aggregate level is due to aggregation and/or common unobserved factors. Our …