PAYA, IVAN; DUARTE, AGUSTIN; HOLDEN, KEN - In: Journal of Money, Credit and Banking 39 (2007) 6, pp. 1521-1531
This paper examines the impact of temporal aggregation on alternative definitions of inflation persistence. Using the CPI and the core PCE deflator of the United States, our results show that temporal aggregation from the monthly to the quarterly to the annual frequency induces persistence in...