Journal article
Modelling UK Inflation, 1875-1991.
- Abstract:
- UK inflation has varied greatly in response to many economic policy and exchange-rate regime shifts, two world wars and two oil crises, as well as legislative and technological changes. Inflation is modelled as responding to excess demands from all sectors of the economy: goods and services, factors of production, money, financial assets, foreign exchange, and government deficits. Equilibrium-correction terms are developed for each of these over the sample. Indicator variables and commodity prices capture turbulent years. Variables representative of most theories of inflation matter empirically, yielding an eclectic model inconsistent with any single-cause explanation.
- Publication status:
- Published
- Peer review status:
- Peer reviewed
Actions
Access Document
- Files:
-
-
(Preview, Accepted manuscript, pdf, 219.9KB, Terms of use)
-
(Accepted manuscript, zip, 21.8KB, Terms of use)
-
(Accepted manuscript, plain, 5.1KB, Terms of use)
-
- Publisher copy:
- 10.1002/jae.615
Authors
- Publisher:
- John Wiley & Sons, Ltd.
- Journal:
- Journal of Applied Econometrics More from this journal
- Volume:
- 16
- Issue:
- 3
- Pages:
- 255 - 275
- Publication date:
- 2001-01-01
- DOI:
- ISSN:
-
0883-7252
- Language:
-
English
- UUID:
-
uuid:90933422-65e4-4056-985b-bfa5b6a68f92
- Local pid:
-
oai:economics.ouls.ox.ac.uk:10829
- Deposit date:
-
2011-08-16
- ARK identifier:
Terms of use
- Copyright holder:
- John Wiley & Sons, Ltd
- Copyright date:
- 2001
- Notes:
- This is the peer reviewed version of the following article: "Modelling UK Inflation, 1875-1991", David F. Hendry, Journal of Applied Econometrics, 16 (3), Copyright © 2001 John Wiley & Sons, Ltd., which has been published in final form at http://dx.doi.org/10.1002/jae.615. This article may be used for non-commercial purposes in accordance With Wiley Terms and Conditions for self-archiving (http://olabout.wiley.com/WileyCDA/Section/id-817011.html).
- Licence:
- Other
If you are the owner of this record, you can report an update to it here: Report update to this record