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A Volatility and Persistence-Based Core Inflation

Objektkategorie:
Elektronische Ressource
Verlag:
International Monetary Fund
Veröffentlichungsort:
Washington, D.C
Entstehungszeit:
20150121
Umfang, Illustration, Format:
Online-Ressource (19 p)
Sprache:
Nicht zu entscheiden
Bereitstellende Institution:
Forschungsbibliothek Gotha
GND Explorer
Abstract:
Intuitively core inflation is understood as a measure of inflation where noisy price movements are avoided. This is typically achieved by either excluding or downplaying the importance of the most volatile items. However, some of those items show high persistence, and one certainly does not want to disregard persistent price changes. The non-equivalence between volatility and (the lack of) persistence implies that when one excludes volatile items relevant information is likely to be discarded. Therefore, we propose a new type of core inflation measure, one that takes simultaneously into account both volatility and persistence. The evidence shows that such measures far outperform those based on either volatility or persistence. The latter have been advocated in the literature in recent years
Objekttext:
Online-Ausg.

Zugriff und Nutzungsmöglichkeiten

Universität Erfurt
Forschungsbibliothek Gotha
Schloss Friedenstein
Schlossplatz 1
99867 Gotha
+49 361 737-5540
bibliothek.gotha(at)uni-erfurt.de
Datensatz angelegt am:
2023-04-14
Zuletzt geändert am:
2023-01-26
In Portal übernommen am:
2023-04-14