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Title: Measuring persistence in inflation: evidence for Angola
Authors: Belbute, José
Editors: Wiley-Blackwell
Keywords: Inflation
Issue Date: Dec-2015
Citation: Belbute, J. j. Delgado and L. Massala (2015); “Measuring persistence in inflation: evidence for Angola,” South African Journal of Economics, forthcoming;
Abstract: The purpose of this paper is to examine the degree of persistence in five inflation indicators for Angola, and to identify the implications for decision making. Our results suggest that when structural breaks are accounted for, all five inflation indicators are stationary. Second, our findings suggest that persistence is not too high. Moreover, the degree of persistence is similar among the five inflation indicators and throughout the sample period. Finally, our results also show that extracting the most volatile components of the headline inflation indicator does not generate a new inflation indicator that is less volatile and more persistent than the original. These results have important policy implications as the National Bank of Angola is preparing to change its monetary policy focus to a more inflation-targeting regime
Type: article
Appears in Collections:ECN - Publicações - Artigos em Revistas Internacionais Com Arbitragem Científica
CEFAGE - Publicações - Artigos em Revistas Internacionais Com Arbitragem Científica

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