Bos, C.S.; Franses, P.H.; Ooms, M. - Econometrisch Instituut, Faculteit der Economische … - 1998
A key application of long memory time series models concerns inflation. Long memory implies that shocks have a long-lasting effect. It may however be that empirical evidence for long memory is caused by neglecting one or more level shifts. Since such level shifts are not unlikely for inflation,...