Stationarity of Inflation : Evidence from Panel Unit Root Tests with Trend Shifts

@inproceedings{Im2010StationarityOI,
  title={Stationarity of Inflation : Evidence from Panel Unit Root Tests with Trend Shifts},
  author={Kyung So Im and Junsoo Lee and Margie A. Tieslau},
  year={2010}
}
The question of whether or not inflation is stationary has serious implications for the empirical validity of many economic theories and, hence, for the effectiveness of policy tools that are based on these theories. However, the lack of a more powerful unit root test has hindered our ability to effectively analyze the inflation rate. Researchers have attempted to gain power by devising tests in the panel framework. However, inflation rates across the globe are likely to exhibit changing means… CONTINUE READING
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