The stationarity of inflation in Croatia: anti-inflation stabilization program and the change in persistence (CROSBI ID 225111)
Prilog u časopisu | izvorni znanstveni rad | međunarodna recenzija
Podaci o odgovornosti
Gil-Alana, Luis A. ; Mervar, Andrea ; Payne, James E.
engleski
The stationarity of inflation in Croatia: anti-inflation stabilization program and the change in persistence
This study examines the impact of the anti-inflation stabilization policies on the behavior of inflation in Croatia in the early 1990s and through the subsequent post-stabilization period using fractional integration techniques. Indeed, the implementation of the stabilization program in October 1993 brought immediate deflation with a relative high degree of inflation stability in the post-stabilization period. With allowance for a structural break corresponding to the stabilization program in October 1993, the degree of persistence was substantially reduced with the fractional differencing parameter being positive but close to zero in the poststabilization period.
Inflation ; persistence ; stabilization program ; Croatia
Published online 9 February 2016
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Podaci o izdanju
50 (1)
2017.
45-58
objavljeno
1573-9414
1574-0277
10.1007/s10644-016-9181-2
Povezanost rada
Ekonomija