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Is there Really a Unit Root in the Inflation Rate? More Evidence from Panel Data Models

Publiceringsår: 2008
Språk: Engelska
Sidor: 161-164
Publikation/Tidskrift/Serie: Applied Economics Letters
Volym: 15
Nummer: 3
Dokumenttyp: Artikel
Förlag: Taylor & Francis Group


Time series unit root evidence suggests that inflation is nonstationary. By contrast, when using more powerful panel unit root tests, Culver and Papell (1997) find that inflation is stationary. In this article, we test the robustness of this result by applying a battery of recent panel unit root tests. The results suggest that the stationarity of inflation holds even after controlling for cross-sectional dependence and structural change.



  • Business and Economics


  • ISSN: 1350-4851

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