Regional Disparities in Inflation Persistence: Unpacking the Dynamics of Price Growth in Portugal

Detalhes bibliográficos
Autor(a) principal: Santos, Eleonora
Data de Publicação: 2023
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10400.8/9255
Resumo: This research is financed by National Funds of the FCT—Portuguese Foundation for Science and Technology within the project «UIDB/04928/2020» and, under the Scientific Employment Stimulus-Institutional Call CEECINST/00051/2018.
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spelling Regional Disparities in Inflation Persistence: Unpacking the Dynamics of Price Growth in PortugalInflation PersistenceRegional analysisTime series data;Arima ModelThis research is financed by National Funds of the FCT—Portuguese Foundation for Science and Technology within the project «UIDB/04928/2020» and, under the Scientific Employment Stimulus-Institutional Call CEECINST/00051/2018.This paper investigates the degree of inflation persistence across regions in Portugal by analyzing the Consumer Price Index (CPI) growth rates for NUTS II regions. The study employs the Augmented Dickey-Fuller (ADF) test to determine whether the CPI data for Portugal is stationary or non-stationary. The results of the ADF test reveal that the IPC data for Portugal is non-stationary, indicating that inflation exhibits persistence in the long run. The study further assesses the persistence of inflation by estimating an autoregressive integrated moving average (ARIMA) model for each region. The Ljung-Box test is used to test for autocorrelation in the time series data, and the Hurst exponent is calculated to evaluate the presence of long-term memory in the time series data. The study finds that there is significant autocorrelation in the time series data for all regions, supporting the presence of persistence in inflation at the regional level in Portugal. The Hurst exponent also shows that the time series data for each region exhibits a high degree of persistence in inflation. Finally, the study applies the ARIMA model to each CPI division's data and uses the Ljung-Box test to test for autocorrelation in the time series data. The results show that some CPI divisions exhibited higher levels of persistence compared to others. For example, the "Housing, water, electricity, gas and other fuels" division exhibited high persistence, while the "Communication" division exhibited low persistence. This study contributes to the existing literature by exploring regional inflation persistence in Portugal and its implications for policymaking. The results provide insights into the inflation persistence patterns across regional levels in Portugal, by emphasizing the need to consider regional differences in inflation dynamics when formulating effective policy interventions. Understanding the persistence of inflation is crucial for policymakers to ensure price stability and sustainable economic growth.Anser PressIC-OnlineSantos, Eleonora2024-01-11T17:26:03Z2023-072023-07-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10400.8/9255engSantos, E. (2023). Regional Disparities in Inflation Persistence: Unpacking the Dynamics of Price Growth in Portugal. Economic Analysis Letters, 2(3), 33. https://doi.org/10.58567/eal02030006https://doi.org/10.58567/eal02030006info:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2024-01-17T15:59:03Zoai:iconline.ipleiria.pt:10400.8/9255Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-20T01:51:45.988547Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv Regional Disparities in Inflation Persistence: Unpacking the Dynamics of Price Growth in Portugal
title Regional Disparities in Inflation Persistence: Unpacking the Dynamics of Price Growth in Portugal
spellingShingle Regional Disparities in Inflation Persistence: Unpacking the Dynamics of Price Growth in Portugal
Santos, Eleonora
Inflation Persistence
Regional analysis
Time series data;
Arima Model
title_short Regional Disparities in Inflation Persistence: Unpacking the Dynamics of Price Growth in Portugal
title_full Regional Disparities in Inflation Persistence: Unpacking the Dynamics of Price Growth in Portugal
title_fullStr Regional Disparities in Inflation Persistence: Unpacking the Dynamics of Price Growth in Portugal
title_full_unstemmed Regional Disparities in Inflation Persistence: Unpacking the Dynamics of Price Growth in Portugal
title_sort Regional Disparities in Inflation Persistence: Unpacking the Dynamics of Price Growth in Portugal
author Santos, Eleonora
author_facet Santos, Eleonora
author_role author
dc.contributor.none.fl_str_mv IC-Online
dc.contributor.author.fl_str_mv Santos, Eleonora
dc.subject.por.fl_str_mv Inflation Persistence
Regional analysis
Time series data;
Arima Model
topic Inflation Persistence
Regional analysis
Time series data;
Arima Model
description This research is financed by National Funds of the FCT—Portuguese Foundation for Science and Technology within the project «UIDB/04928/2020» and, under the Scientific Employment Stimulus-Institutional Call CEECINST/00051/2018.
publishDate 2023
dc.date.none.fl_str_mv 2023-07
2023-07-01T00:00:00Z
2024-01-11T17:26:03Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10400.8/9255
url http://hdl.handle.net/10400.8/9255
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv Santos, E. (2023). Regional Disparities in Inflation Persistence: Unpacking the Dynamics of Price Growth in Portugal. Economic Analysis Letters, 2(3), 33. https://doi.org/10.58567/eal02030006
https://doi.org/10.58567/eal02030006
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Anser Press
publisher.none.fl_str_mv Anser Press
dc.source.none.fl_str_mv reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron:RCAAP
instname_str Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron_str RCAAP
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reponame_str Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
collection Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
repository.name.fl_str_mv Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
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