Looking for a break in Spanish Inflation Data in the early eighties and assessing persistence

Maria Teresa Mota, Mariana Cunha and Carlos Santos ()
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Maria Teresa Mota: Faculdade de Economia e Gestão - Universidade Católica Portuguesa - Porto

No 22008, Working Papers de Economia (Economics Working Papers) from Católica Porto Business School, Universidade Católica Portuguesa

Abstract: Using the Bai-Perron test, we look for a shift in the conditional mean of an AR representation of Spanish CPI inflation over the period: 1978-2006. It is clear that Spain, as most OECD economies, experienced an inflation slowdown in the early eithgties, which can be related to some policy measures undertook by the government coming out of the 1982 elections. It is shown, that when the break is accounted for, there are no signs of persistence in Spanish CPI inflation.

Keywords: inflation persistence; structural breaks; monetary policy (search for similar items in EconPapers)
JEL-codes: C12 C22 E31 E65 (search for similar items in EconPapers)
Pages: 12 pages
Date: 2008-02
New Economics Papers: this item is included in nep-cba, nep-mac and nep-mon
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