Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/77979
Authors: 
Darvas, Zsolt
Varga, Balázs
Year of Publication: 
2013
Series/Report no.: 
Bruegel Working Paper 2013/04
Abstract: 
This paper studies inflation persistence with time-varying coefficient autoregressions for twelve central European countries,in comparison with the United States and the euro area. Inflation persistence tends to be higher in times of high inflation. Since the oil price shocks, inflation persistence has declined both in the US and euro-area. In most central and eastern European countries, for which our study covers 1993-2012, inflation persistence has also declined, with the main exceptions of the Czech Republic, Slovakia and Slovenia, where persistence seems to be rather stable.
Subjects: 
flexible least squares
inflation persistence
Kalman-filter
time-varying coefficient models
JEL: 
C22
E31
Document Type: 
Working Paper
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