Multiple structural change tests by Bai and Perron (Econometrica 66:47–78, <CitationRef CitationID="CR2">1998</CitationRef>) are applied to the regression by Demetrescu et al. (Econ Theory 24:176–215, <CitationRef CitationID="CR15">2008</CitationRef>) in order to detect breaks in the order of fractional integration. With this instrument we tackle time-varying inflation...</citationref></citationref>

This paper provides evidence for a significant relation between international financial markets integration and output volatility. In the framework of a threshold model, it is empirically shown that this relation depends on the financial risk of a country as perceived by investors. In order to...

This paper uses the European Monetary Union (EMU) as a natural experiment to investigate whether more effective monetary policy reduces the persistence of inflation. Taking into account the fractional integration of inflation, we confirm that inflation dynamics differed considerably across Euro...

This paper provides new evidence on inflation persistence before and after the European Monetary Union (EMU). Taking into account fractional integration of inflation, we confirm that inflation dynamics differed considerably across Euro area countries before the start of EMU. Since 1999, however,...

This paper provides evidence for a significant relation between international financial markets' integration and output volatility. In the framework of a threshold model, it is shown empirically that this relation depends on country's financial risk. Financial risk indicates a country's ability...

Multiple structural change tests by Bei and Perron (1998) are applied to the regression by Demetrescu, Kuzin and Hassler (2008) in order to detect breaks in the order of fractional integration. With this instrument we tackle time-varying inflation persistence as an important issue for monetary...