The data file usdata5 contains the data on inflation displayed in Figure 12.1. a. Is inflation stationary

Question:

The data file usdata5 contains the data on inflation displayed in Figure 12.1.

a. Is inflation stationary or nonstationary? Explain your choice of test equation.

b. What is the order of integration of inflation?

c. Construct and estimate a suitable model for forecasting inflation in 2017M1. What is your forecast?

Data From Figure 12.1:-

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