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dc.contributor.authorHassler, Uween
dc.contributor.authorMeller, Barbaraen
dc.date.accessioned2011-12-08-
dc.date.accessioned2011-12-09T12:28:50Z-
dc.date.available2011-12-09T12:28:50Z-
dc.date.issued2011-
dc.identifier.isbn978-3-86558-761-9en
dc.identifier.urihttp://hdl.handle.net/10419/52676-
dc.description.abstractMultiple structural change tests by Bei and Perron (1998) are applied to the regression by Demetrescu, Kuzin and Hassler (2008) in order to detect breaks in the order of fractional integration. With this instrument we tackle time-varying inflation persistence as an important issue for monetary policy. We determine not only the location and significance of breaks in persistence, but also the number of breaks. Only one significant break in U.S. inflation persistence (measured by the long-memory parameter) is found to have taken place in 1973, while a second break in 1980 is not significant.en
dc.language.isoengen
dc.publisher|aDeutsche Bundesbank |cFrankfurt a. M.en
dc.relation.ispartofseries|aDiscussion Paper Series 1 |x2011,26en
dc.subject.jelC22en
dc.subject.jelE31en
dc.subject.ddc330en
dc.subject.keywordFractional integrationen
dc.subject.keywordbreak in persistenceen
dc.subject.keywordunknown break pointen
dc.subject.keywordinflation dynamicsen
dc.titleDetecting multiple breaks in long memory: The case of US inflation-
dc.typeWorking Paperen
dc.identifier.ppn679412972en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:bubdp1:201126en

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