Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/315743 
Year of Publication: 
2025
Series/Report no.: 
QUCEH Working Paper Series No. 25-05
Publisher: 
Queen's University Centre for Economic History (QUCEH), Belfast
Abstract: 
We argue that measurement error in historical price data has led researchers to erroneously believe that there was little persistence of inflation during the 19th century. Using a statistical technique that accounts for these errors, we estimate the persistence of (a) US inflation and (b) inflation in 14 other economies over the period 1842-1913. Our results indicate that persistence approximately doubles when we use this technique.
Subjects: 
Inflation persistence
gold standard
measurement errors
instrumental variables
JEL: 
E31
F40
N10
Document Type: 
Working Paper

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.