Chinese Commodity Price Evidence Study for COVID-19 Shock and Price Stickiness Model Design
Table 7
Inflation inertia.
Index
Model
(1)
(2)
MUE
OLS
All
AR(3)
−0.198
−0.199
Food
AR(6)
−0.664
−0.691
Clothing
AR(3)
−0.311
−0.313
Residence
AR(2)
0.069
0.064
Household equipment
AR(2)
−0.106
−0.103
Transport, post, and telecommunication
AR(3)
−0.188
0.156
Culture, education, and recreation
AR(4)
0.149
−0.296
Medicine and health care
AR(3)
−0.296
−0.141
Other goods and services
AR(2)
−0.152
−0.199
Notes: Column 1 shows inflation inertia coefficient using median unbias method to estimate the AR model. Column 2 is inflation inertia coefficient using least square method to estimate the AR model.