From: Nominal stability over two centuries
CPI
WPI
DEFL
NGDP
E[ψ|y]
0.44
0.25
0.31
0.27
\(\sqrt {var[\psi |\mathbf {y}]}\)
0.06
0.08
P[ψ>0|y]
1.00
Bayes factor
2.08×10106
11.98
93.34
17.57