Why should Central Banks avoid the use of the underlying inflation indicator?
AbstractThis paper assesses the usefulness of the commonly used underlying inflation indicator, in light of the criteria proposed in Marques et al. (2000). Empirical evidence for a group of six countries strongly suggets that the use of underlying inflation as an indicator of trend inflation should be avoided.
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Bibliographic InfoArticle provided by Elsevier in its journal Economics Letters.
Volume (Year): 75 (2002)
Issue (Month): 1 (March)
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Web page: http://www.elsevier.com/locate/ecolet
Other versions of this item:
- Carlos Robalo Marques & Pedro Duarte Neves & Afonso GonÃ§alves da Silva, 2000. "Why Should Central Banks Avoid the Use of the Underlying Inflation Indicator?," Working Papers, Banco de Portugal, Economics and Research Department w200005, Banco de Portugal, Economics and Research Department.
- C43 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Index Numbers and Aggregation
- E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
- E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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