Time-varying inflation persistence in the Euro area

Meredith Beechey () and Pär Österholm

Economic Modelling, 2009, vol. 26, issue 2, 532-535

Abstract: This paper investigates how inflation persistence in the Euro area has evolved between 1991 and 2006. Employing an ARMA(1,11) model with time-varying autoregressive parameter, we find that inflation persistence has fallen markedly since the third stage of the EMU began in January 1999 and inflation no longer exhibits unit-root behaviour.

Keywords: Monetary; policy; Central; bank; preferences (search for similar items in EconPapers)
Date: 2009
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Citations: View citations in EconPapers (33)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecmode:v:26:y:2009:i:2:p:532-535

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