Is there Really a Unit Root in the Inflation Rate? More Evidence from Panel Data Models
Författare
Summary, in English
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.
Avdelning/ar
Publiceringsår
2008
Språk
Engelska
Sidor
161-164
Publikation/Tidskrift/Serie
Applied Economics Letters
Volym
15
Issue
3
Dokumenttyp
Artikel i tidskrift
Förlag
Routledge
Ämne
- Economics
Status
Published
ISBN/ISSN/Övrigt
- ISSN: 1466-4291