Inflation and structural change in 50 developing countries

被引：15

作者：

Arize A.C. ^{[1
]}

Malindretos J. ^{[2
]}

Nam K. ^{[3
]}

机构：

[1] Texas A&M University-Commerce,

[2] Yeshiva University,undefined

[3] College of Business and Administration,undefined

来源：

Atlantic Economic Journal | 2005年 / 33卷 / 4期

关键词：

C22; E31;

D O I：

10.1007/s11293-005-2877-8

中图分类号：

学科分类号：

摘要：

This study provides evidence on whether the inflation rate is stationary or nonstationary using quarterly inflation rate data from 50 developing countries. As Johansen [Johansen, Soren. "Testing Weak Exogeneity and Order of Cointegration in UK Money Demand Data," Journal of Policy Modeling, 14, 3, June 1992, pp. 313-334] put it, "some time series such as the log of prices (P), have the property that even the inflation rate δP is nonstationary, whereas the second difference δ2 P is stationarity." Results from fractional integration analyses provide evidence of long memory and confirm that the nonstationarity threshold of d ≥ 0.5 is satisfied in the majority of the cases. Results from recursive analyses indicate that, despite the finding that structural changes influence the behavior of the estimated integration parameters, evidence of long memory and nonstationarity can be found in each subsample as well as the full sample data. © International Atlantic Economic Society 2005.

引用

页码：461 / 471

页数：10

共 39 条

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