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Joakim Westerlund. Photo.

Joakim Westerlund

Professor, Programme director – Master of Data Analytics and Business Economics

Joakim Westerlund. Photo.

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

Author

  • Syed A. Basher
  • Joakim Westerlund

Summary, in English

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.

Department/s

  • Department of Economics

Publishing year

2008

Language

English

Pages

161-164

Publication/Series

Applied Economics Letters

Volume

15

Issue

3

Document type

Journal article

Publisher

Routledge

Topic

  • Economics

Status

Published

ISBN/ISSN/Other

  • ISSN: 1466-4291