Canarella, Giorgio; Miller, Stephen M. - 2016
We investigate the empirics of the persistence in the inflation series for 13 OECD countries that use an inflation … suggested by Kim and Phillips (2006, 2000) and Phillips (2007). We find that (i) inflation exhibits a fractional behavior over … the entire sample period and, in most cases, in the pre- and post-targeting periods, (ii) the adoption of inflation …