Detalle Publicación


The cyclical structure of the UK inflation rate: 1210-2016

Título de la revista: ECONOMICS LETTERS
ISSN: 0165-1765
Volumen: 181
Páginas: 182 - 185
Fecha de publicación: 2019
In this paper, we examine the cyclical structure of the UK inflation rate using historical data dating back to 1210. Based on a methodology that allows for fractional orders of integration at a non-zero frequency and stochastic cycles, the results indicate the presence of cycles that repeat themselves approximately every 4 years and that the order of integration is constrained between 0.10 and 0.20, implying long memory. Moreover, this pattern seems to be stable over time. (C) 2019 Elsevier B.V. All rights reserved.