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This note summarizes the empirical results of testing for unit roots in four Latin American inflation series using recent procedures that account for potential additive outliers. The standard unit root tests rejected the null of a unit root, but visual inspection showed large outliers present. Applying procedures by Vogelsang (1999) and Perron and Rodríguez (2003) that account for outliers revealed their presence associated with stabilization programs. Correcting the ADF test for outliers, the inflation ser

Author

Angel Guillen

Language

EN