We examine both the degree and the structural stability of inflation persistence at different quantiles of the conditional inflation distribution. Previous research focused exclusively on persistence at the conditional mean of the inflation rate. As economic theory provides reasons for inflation...

We examine both the degree and the structural stability of inflation persistence at different quantiles of the conditional inflation distribution. Previous research focused exclusively on persistence at the conditional mean of the inflation rate. As economic theory provides reasons for inflation...

Using the Bai-Perron test, we look for a shift in the conditional mean of an AR representation of Spanish CPI inflation over the period: 1978-2006. It is clear that Spain, as most OECD economies, experienced an inflation slowdown in the early eithgties, which can be related to some policy...

We study the evolution of inflation persistence in Argentina between 1980 and 2007, a period in which significant changes in mean inflation can be detected by simple observation. We adopt both a timeseries univariate and a frequency-domain approach. Following the former perspective breaks in the...

This paper presents evidence on the persistence of inflation in the United States over the period 1947- 2010. Of particular interest is whether the persistence of inflation has changed over that time period. We use a reduced form approach to measuring inflation persistence, modeling inflation as...

The aim of this paper is to compare inflation persistence between the New Member States (NMS) that joined the European Union in 2004 and 2007 and selected euro area members. If the levels of inflation persistence between the two groups are different, the NMS may encounter problems with...

The article deals with inflation dynamics in Belgium, and in particular the degree of inflation persistence. It also presents a historical perspective in order to determine whether the statistical properties of the inflation process have changed over time. The analysis revealed significant...

For many years, a prevalent stylized fact in the literature on inflation dynamics has been that inflation is a highly persistent process, sometimes close to a random walk. This feature of the inflation process has several important implications for monetary policy modeling and conducting. From...

This paper analyses the degree of price rigidity and of inflation persistence across different product categories with particular focus on regulated prices and services for the individual EU15 countries, as well as for the EU15 and the euro area aggregates. We show that services and those HICP...

This paper is concerned with univariate noncausal autoregressive models and their potential usefulness in economic applications. In these models, future errors are predictable, indicating that they can be used to empirically approach rational expectations models with nonfundamental solutions. In...