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Cross-Sectional Inflation Asymmetries And Core Inflation: A Comment On Bryan And Cecchetti

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  • Randal J. Verbrugge

Abstract

This paper reexamines the evidence relating core inflation to cross-sectional inflation asymmetry using statistical measures that are robust to the criticism of Bryan and Cecchetti. The results here suggest that there does exist significant positive correlation between core inflation and cross-sectional inflation asymmetry, but only at the monthly frequency. Furthermore, a sampling problem is highlighted which underscores the importance of careful Monte Carlo analysis when exact small-sample distributions are unknown. © 1999 by the President and Fellows of Harvard College and the Massachusetts Institute of Technology

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File URL: http://www.mitpressjournals.org/doi/pdf/10.1162/003465399558166
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Bibliographic Info

Article provided by MIT Press in its journal The Review of Economics and Statistics.

Volume (Year): 81 (1999)
Issue (Month): 2 (May)
Pages: 199-202

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Handle: RePEc:tpr:restat:v:81:y:1999:i:2:p:199-202

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Web page: http://mitpress.mit.edu/journals/

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Cited by:
  1. Luc Aucremanne & Guy Brys & Mia Hubert & Peter J. Rousseeuw & Anja Struyf, 2002. "Inflation, relative prices and nominal rigidities," Working Paper Research, National Bank of Belgium 20, National Bank of Belgium.
  2. Suvanto , Antti & Hukkinen , Juhana, 2004. "Stable price level and changing prices," Research Discussion Papers, Bank of Finland 28/2004, Bank of Finland.
  3. James Yetman, 2009. "Hong Kong Consumer Prices are Flexible," Working Papers, Hong Kong Institute for Monetary Research 052009, Hong Kong Institute for Monetary Research.
  4. Dimitrios D. Thomakos & Constantina Kottaridi & Diego MŽndez-Carbajo, 2007. "Inflation Dynamics and the Cross-Sectional Distribution of Prices in the E.U. Periphery," Working Paper Series, The Rimini Centre for Economic Analysis 43-07, The Rimini Centre for Economic Analysis, revised Jul 2007.

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