Measuring core inflation as the common trend of prices *

@inproceedings{Fiorencio2000MeasuringCI,
  title={Measuring core inflation as the common trend of prices *},
  author={Antonio Fiorencio and Ajax R. B. Moreira},
  year={2000}
}
In recent years, many central banks have adopted inflation targeting policies starting an intense debate about which measure of inflation to adopt. The literature on core inflation has tried to develop indicators of inflation which would respond only to “significant” changes in inflation. This paper defines a measure of core inflation as the common trend of prices in a multivariate dynamic model, that has, by construction, three properties: it filters idiosyncratic and transitory macro noises… CONTINUE READING
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