Euro Bölgesi Ülkeleri İçin Enflasyon Yakınsamasının Panel Birim Kök Testi İle İncelenmesi
Analyzing The Inflation Convergence for Eurozone Countries with Panel Unit Root Test

Summary/Abstract: Purpose – Purpose of the study is, investigating the existence of inflation convergence for 19 Euro zone countries between 1999-2018. Design/Methodology/Approach – For the Eurozone countries, the presence of convergence is analyzed by panel unit root test with the help of annual change data in consumer price index between 1999-2018. Firstly, the existence of horizontal cross-sectional dependence in the series was examined. After, Hadri-Kurozumi (2012) panel unit root test, one of the second generation unit root tests, was applied. Findings – According to the test results, the hypothesis of zero which assumes that the inflation series is stable is accepted. So the series does not contain unit root. Therefore, it was concluded that inflation converged among the selected country group during the analysis period.

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