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 …

, Italy and the UK). The empirical results suggest that inflation in France and Italy is nonstationary. However, while for the … exclusively from the long-run or zero frequency. In the UK, inflation seems to be stationary with a component of long memory at …

, Italy and the UK). The empirical results suggest that inflation in France and Italy is nonstationary. However, while for the … exclusively from the long-run or zero frequency. In the UK, inflation seems to be stationary with a component of long memory at …

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 …

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