Structural breaks in the U.S. inflation process: a further investigation
Jamel Jouini () and
Mohamed Boutahar
Applied Economics Letters, 2003, vol. 10, issue 15, 985-988
Abstract:
The selection procedure of Bai and Perron (Econometrica, 1998, 66, 47-78), based on a sequence of tests for multiple structural changes, is used to explore the empirical evidence of the instability by selecting the number of breaks and their locations for the post-war monthly U.S. inflation rate. The obtained results indicate that the U.S. inflation process is unstable after June 1982 as there is a break at the beginning of the 1990s. This conclusion contradicts that of Ben Aissa and Jouini (Applied Economics Letters, 2003, 10, 633-6), who show that using some information criteria, the evolution curve of U.S. inflation was flattened during the last 20 years, making the process stable. Hence this points to the fact that the procedure used is more powerful than the information criteria in detecting changes.
Date: 2003
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (14)
Downloads: (external link)
http://www.informaworld.com/openurl?genre=article& ... 40C6AD35DC6213A474B5 (text/html)
Access to full text is restricted to subscribers.
Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:taf:apeclt:v:10:y:2003:i:15:p:985-988
Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/RAEL20
DOI: 10.1080/1350485032000164387
Access Statistics for this article
Applied Economics Letters is currently edited by Anita Phillips
More articles in Applied Economics Letters from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().