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Inflation persistence during periods of structural change: an assessment using Greek data

Content Provider	Semantic Scholar
Author	Hondroyiannis, George Lazaretou, Sophia M.
Copyright Year	2007
Abstract	The paper estimates inflation persistence in Greece from 1975 to 2003, a period of high variation in inflation and changes in policy regimes. Two empirical methodologies, univariate autoregressive (AR) modelling and second-generation random coefficient (RC) modelling, are employed to estimate inflation persistence. The empirical results from all the procedures suggest that inflation persistence was high till 1996, while it started to decline after 1997, when inflationary expectations seem to have been stabilised, and thus, monetary policy was effective at reducing inflation. Empirical findings also detect a sluggish response of inflation to changes in monetary policy. This observed delay seems to have changed little over time.
Starting Page	453
Ending Page	475
Page Count	23
File Format	PDF HTM / HTML
DOI	10.1007/s10663-007-9043-2
Volume Number	34
Alternate Webpage(s)	http://www.ecb.int/pub/pdf/scpwps/ecbwp370.pdf
Alternate Webpage(s)	http://www.ecb.europa.eu/pub/pdf/scpwps/ecbwp370.pdf
Alternate Webpage(s)	http://www.ecb.eu/pub/pdf/scpwps/ecbwp370.pdf
Alternate Webpage(s)	http://www.ecb.europa.eu/events/pdf/conferences/inflationpersistence/Hondrolazaretou.pdf
Alternate Webpage(s)	https://www.bankofgreece.gr/BogEkdoseis/paper200413.pdf
Alternate Webpage(s)	https://www.ecb.europa.eu/pub/pdf/scpwps/ecbwp370.pdf
Alternate Webpage(s)	http://www.bankofgreece.gr/BogEkdoseis/paper200413.pdf
Alternate Webpage(s)	https://doi.org/10.1007/s10663-007-9043-2
Language	English
Access Restriction	Open
Content Type	Text
Resource Type	Article

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