A key application of long memory time series models concerns inflation. Long memory implies that shocks have a long … such level shifts are not unlikely for inflation, where the shifts may be caused by sudden oil price shocks, we examine … exaggerated. Our main findings are that apparent longmemory is quite resistant to level shifts, although for a few inflation rates …

, linking nominal interest rates to inflation; however, there is no evidence of the full adjustment of the former to the latter …

, linking nominal interest rates to inflation; however, there is no evidence of the full adjustment of the former to the latter …