Inflation in Mozambique. Empirical facts based on persistence, seasonality and breaks
Authors
Luis Alberiko Gil-Alaña
Carlos Pestana Barros
Joao Ricardo Faria
Type
Article
Journal
Applied Economics Vol. 46, No. 21
Pages
3545-2555
Date
09-04-2014
Abstract
This article investigates inflation in Mozambique using long-range dependence (LRD) techniques in monthly data from December 1995 to October 2012. Two important features of the data are analysed: persistence and seasonality, looking at aggregated and disaggregated data. The stability of the parameters across the sample is also investigated. The results indicate a high degree of persistence in the data along with a strong seasonal pattern. Policy implications are discussed.