Inflation adjustment in the open economy: an I(2) analysis of UK prices.
This paper estimates a cointegrated vector autoregressive (VAR) model for UK data on consumer prices, unit labour costs, import prices and real consumption growth. The estimated VAR indicates that the nominal variables are characterised by I(2) trends, and that a linear combination of these processe...
| Main Authors: | , |
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| Format: | Journal article |
| Language: | English |
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Physica Verlag, An Imprint of Springer-Verlag GmbH
2006
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Inflation Adjustment in the Open Economy: An I(2) Analysis of UK Prices.
Published 2003
Working paper