which 'observed' inflation persistence at the aggregate level is due to aggregation and/or common unobserved factors. Our …

targeting for regional inflation persistence. Based on data for Korean cities and provinces it is shown that the adoption of … inflation targeting leads (i) to a fall in inflation persistence at the regional level and (ii) to a reduction in the cross …-regional heterogeneity in inflation persistence. A common factor model lends further support to the role of the common component, and hence …

This paper presents a new mechanism through which monetary policy rules affect inflation persistence. When assuming … account for the pattern of changes in inflation persistence observed in the post-wwii U.S. data. In addition, with increasing …

In this paper, we investigate the co-incidence of inflation persistence and poverty in a small open economy, using … analysis of poverty rates across districts and regions in Ghana, we determine where the adverse impacts of inflation … persistence would, most likely, hit hardest. Using monthly inflation series for the periods 2005:08-2010:06 (for regions) and 1997 …

variance, but no persistence. Aggregate shocks, by contrast, are the root of sectoral inflation persistence, but have …. Sectoral shocks, too, generate substantial inflation persistence. Both findings contrast with earlier evidence from factor …

bootstrapped confidence bands. We find a significant reduction in inflation persistence following the adoption of inflation … targeting do not show a decline in persistence. Measuring the performance of monetary policy strategies in terms of inflation … persistence rather than the level of inflation shows that inflation targeting performs better than alternative strategies. …