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Is there Really a Unit Root in the Inflation Rate? More Evidence from Panel Data Models

Basher, Syed A. and Westerlund, Joakim LU (2008) In Applied Economics Letters 15(3). p.161-164
Abstract
Time series unit root evidence suggests that inflation is nonstationary. By contrast, when using more powerful panel unit root tests, Culver and Papell (1997) find that inflation is stationary. In this article, we test the robustness of this result by applying a battery of recent panel unit root tests. The results suggest that the stationarity of inflation holds even after controlling for cross-sectional dependence and structural change.
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author
organization
publishing date
type
Contribution to journal
publication status
published
subject
in
Applied Economics Letters
volume
15
issue
3
pages
161 - 164
publisher
Routledge
external identifiers
  • wos:000252313200001
  • scopus:36749098004
ISSN
1466-4291
DOI
10.1080/13504850600706305
language
English
LU publication?
yes
id
f9975890-acc9-48a5-a958-a7a46600a17c (old id 1384477)
date added to LUP
2009-04-20 12:27:13
date last changed
2017-03-26 03:30:18
@article{f9975890-acc9-48a5-a958-a7a46600a17c,
  abstract     = {Time series unit root evidence suggests that inflation is nonstationary. By contrast, when using more powerful panel unit root tests, Culver and Papell (1997) find that inflation is stationary. In this article, we test the robustness of this result by applying a battery of recent panel unit root tests. The results suggest that the stationarity of inflation holds even after controlling for cross-sectional dependence and structural change.},
  author       = {Basher, Syed A. and Westerlund, Joakim},
  issn         = {1466-4291},
  language     = {eng},
  number       = {3},
  pages        = {161--164},
  publisher    = {Routledge},
  series       = {Applied Economics Letters},
  title        = {Is there Really a Unit Root in the Inflation Rate? More Evidence from Panel Data Models},
  url          = {http://dx.doi.org/10.1080/13504850600706305},
  volume       = {15},
  year         = {2008},
}