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Inflation in Portugal, 1953-1980: An Econometric Analysis

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  • Morrison, Rodney J

Abstract

This paper is an analysis of inflation in Portugal during 1953-80, years of economic change and political revolution. Several models of inflation are invest igated in the context of the monetarist-structuralist debate. Ordinar y least squares and first- and second-order autoregressive models, es timated by C. Beach and J. McKinnon's full maximum-likelihood techniq ue, are employed. Beyond the usual hypotheses, the question of econom ies of scale in moneyholding and the general equilibrium money-price relationship are tested. The empirical results demonstrate that, desp ite political upheaval and government market intervention, neoclassic al theory provides a reliable explanation of inflation in Portugal du ring the period considered. Copyright 1987 by WWZ and Helbing & Lichtenhahn Verlag AG

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  • Morrison, Rodney J, 1987. "Inflation in Portugal, 1953-1980: An Econometric Analysis," Kyklos, Wiley Blackwell, vol. 40(2), pages 219-237.
    • Handle: RePEc:bla:kyklos:v:40:y:1987:i:2:p:219-37
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    Cited by:

    1. Onsel Sahin, Sule & Ulengin, Fusun & Ulengin, Burc, 2004. "Using neural networks and cognitive mapping in scenario analysis: The case of Turkey's inflation dynamics," European Journal of Operational Research, Elsevier, vol. 158(1), pages 124-145, October.
    2. Sahin, Sule Onsel & Ulengin, Fusun & Ulengin, Burc, 2006. "A Bayesian causal map for inflation analysis: The case of Turkey," European Journal of Operational Research, Elsevier, vol. 175(2), pages 1268-1284, December.

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