Mean reversion and sales
Patrick Lunnemann and
Thomas Mathä ()
Applied Economics Letters, 2009, vol. 16, issue 12, 1271-1275
This article analyses the degree of inflation persistence in the EU15 using disaggregate HICP price indices. The results, based on a nonparametric measure proposed by Marques (2004) suggest a very moderate degree of median and mean inflation persistence. The modified treatment of sales in the Harmonised Index of Consumer Prices tends to reduce the measured degree of inflation persistence.
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