An I(2) analysis of inflation and the markup
用I(2)模型分析澳大利亚通胀与加价的关系，发现价格和成本是二阶单整的，加价与通胀存在长期负相关，高通胀对应低加价，这被解释为企业在通胀环境下调整价格时克服信息缺失的成本。
Abstract An I(2) analysis of Australian inflation and the markup is undertaken within an imperfect competition model. It is found that the levels of prices and costs are best characterized as integrated of order 2 and that a linear combination of the levels (which may be defined as the markup) cointegrates with price inflation. From the empirical analysis we obtain a long‐run relationship where higher inflation is associated with a lower markup and vice versa. The impact in the long run of inflation on the markup is interpreted as the cost to firms of overcoming missing information when adjusting prices in an inflationary environment. Copyright © 2001 John Wiley & Sons, Ltd.