The persistence of inflation in the United States

被引：144

作者：

Pivetta, Frederic

Reis, Ricardo

机构：

[1] McKinsey & Co Inc, Princeton, NJ 08544 USA

[2] Princeton Univ, Princeton, NJ 08544 USA

来源：

JOURNAL OF ECONOMIC DYNAMICS & CONTROL | 2007年 / 31卷 / 04期

关键词：

inflation persistence; Bayesian time-varying parameters; median unbiased estimates; structural stability; MEDIAN-UNBIASED ESTIMATION; MACROECONOMIC TIME-SERIES; PURCHASING POWER PARITY; CONFIDENCE-INTERVALS; ROOT; TESTS; HYPOTHESIS; MODELS; TRENDS;

D O I：

10.1016/j.jedc.2006.05.001

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

Has the persistence of inflation in the United States changed since 1965? We estimate the persistence of inflation over time using different measures and estimation procedures and we produce confidence intervals for our estimates as well as formal tests of unchanged persistence. We find that inflation persistence has been high and approximately unchanged in the U.S. over our sample period. We reconcile our results with other studies that reached different conclusions. (c) 2006 Elsevier B.V. All rights reserved.

引用

页码：1326 / 1358

页数：33

共 37 条

[1] APPROXIMATELY MEDIAN-UNBIASED ESTIMATION OF AUTOREGRESSIVE MODELS [J].