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Testing for a random walk in Italy's inflation in the post-war period, 1947-1996

journal contribution
posted on 2005-12-01, 00:00 authored by Paresh Narayan
This paper investigates the unit root properties of Italy’s inflation rate in the post-war period (1947-1996). To achieve the aim of this study, the Zivot and Andrews (1992) one break test and the Lumsdaine and Papell (1997) two breaks test for unit roots are applied. It is found that inflation for Italy was a non-stationary breakpoint for the period 1947-1996. This result has important implications for econometric modeling and in understanding the behavior of shocks to Italy’s inflation.

History

Journal

IUP Journal of Financial Economics

Volume

3

Issue

4

Pagination

77 - 82

Publisher

The ICFAI University Press

Location

Hyderabad, India

Language

eng

Publication classification

CN.1 Other journal article

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