@unpublished{20.500.12766/637,
year = {2022},
url = {https://hdl.handle.net/20.500.12766/637},
abstract = {This note analyses the possible effects of the Covid-19 pandemic and of the Russia-Ukraine war on the degree of inflation persistence in both the euro zone and the European Union as a whole (EU27). For this purpose a fractional integration model is estimated, first using the full sample and then recursively. Although the recursive analysis provides clear evidence of a significant increase in inflation persistence (especially in the case of the EU27, for which in addition to jumps an upward trend is clearly identifiable), the full-sample results imply long-lasting but only temporary effects of the two shocks being examined. These findings suggest that the required policy response to both shocks should also have a temporary nature.},
publisher = {CESifo},
title = {Inflation Persistence in Europe: The Effects of the COVID-19 Pandemic and of the Russia-Ukraine War},
doi = {10.2139/ssrn.4273445},
keywords = {Inflation persistence},
keywords = {Fractional integration},
keywords = {Recursive estimation},
keywords = {COVID-19 pandemic},
keywords = {Rusia-Ukraine war},
author = {Caporale, Guglielmo Maria and Infante, Juan and Gil Alana, Luis A. and Ayestarán, Raquel},
}