Structural breaks in the U.S. inflation process
A further investigation
Bibliographic Data
| ID | 19040558 |
|---|---|
| Authors | Jamel Jouini (corresponding author), Mohamed Boutahar |
| Year | 2003 |
| Volume | 10 |
| Issue | 15 |
| Pages | 985-988 |
| Publication date | 2003-12-15 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | Applied Economics Letters (JOURNAL) |
| Journal identifiers | ISSN: 1350-4851 • E-ISSN: 1466-4291 |
| Publisher | Taylor & Francis (PUBLISHER • GB) |
| DOI | 10.1080/1350485032000164387 |
| OpenAlex | W2070935116 |
| Language | EN |
| Citations received | 2 |
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 Aïssa 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
Econometrics · Economics · Inflation rate · Keynesian economics · Monetary policy · Physics · Structural break · Computer Science · Economic theories and models · Economic Theory and Policy · Monetary Policy and Economic Impact
| Unique citing works | 2 |
|---|---|
| Citations per year | 0,09 |
| Citation span | 2004 - 2012 (9) |
| Citation velocity | historical |
| Highly cited | No |
| Citation types | Neutral: 2 |