The cyclical structure of the UK inflation rate: 1210–2016

Luis Gil-Alana and Tommaso Trani

Economics Letters, 2019, vol. 181, issue C, 182-185

Abstract: In this paper, we examine the cyclical structure of the UK inflation rate using historical data dating back to 1210. Based on a methodology that allows for fractional orders of integration at a non-zero frequency and stochastic cycles, the results indicate the presence of cycles that repeat themselves approximately every 4 years and that the order of integration is constrained between 0.10 and 0.20, implying long memory. Moreover, this pattern seems to be stable over time.

Keywords: UK inflation; Persistence; Fractional integration (search for similar items in EconPapers)
JEL-codes: C14 C22 E31 (search for similar items in EconPapers)
Date: 2019
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:181:y:2019:i:c:p:182-185

DOI: 10.1016/j.econlet.2019.05.032

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