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Median price changes: an alternative approach to measuring current monetary inflation

Author

Listed:
  • Michael F. Bryan
  • Christopher J. Pike

Abstract

An analysis concluding that inflation measures based on median price changes are a better indicator than measures based on mean price changes.

Suggested Citation

  • Michael F. Bryan & Christopher J. Pike, 1991. "Median price changes: an alternative approach to measuring current monetary inflation," Economic Commentary, Federal Reserve Bank of Cleveland, issue Dec.
    • Handle: RePEc:fip:fedcec:y:1991:i:dec1
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    Citations

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    Cited by:

    1. Carlos Felipe Jaramillo & Edgar Caicedo & Adolfo Cobo & Andrés González & Munir Jalil & Juan Manuel Julio & Luis Fernando Melo, 1999. "La Inflación Básica en Colombia: Evaluación de Indicadores Alternativos," Borradores de Economia 136, Banco de la Republica de Colombia.
    2. Scott Roger, 1998. "Core inflation: concepts, uses and measurement," Reserve Bank of New Zealand Discussion Paper Series G98/9, Reserve Bank of New Zealand.
    3. Juan-Luis Vega & Mark A. Wynne, 2003. "A First Assessment of Some Measures of Core Inflation for the Euro Area," German Economic Review, Verein für Socialpolitik, vol. 4, pages 269-306, August.
    4. Bodenstein, Martin & Erceg, Christopher J. & Guerrieri, Luca, 2008. "Optimal monetary policy with distinct core and headline inflation rates," Journal of Monetary Economics, Elsevier, vol. 55(Supplemen), pages 18-33, October.
    5. Brent Meyer & Saeed Zaman, 2019. "The usefulness of the median CPI in Bayesian VARs used for macroeconomic forecasting and policy," Empirical Economics, Springer, vol. 57(2), pages 603-630, August.
    6. Daniel R. Carroll & Randal J. Verbrugge, 2019. "Behavior of a New Median PCE Measure: A Tale of Tails," Economic Commentary, Federal Reserve Bank of Cleveland, vol. 2019(10), July.
    7. Landau, Bettina, 2000. "Core inflation rates: a comparison of methods based on west German data," Discussion Paper Series 1: Economic Studies 2000,04, Deutsche Bundesbank.
    8. Brent Meyer & Guhan Venkatu, 2012. "Trimmed-mean inflation statistics: just hit the one in the middle," Working Papers (Old Series) 1217, Federal Reserve Bank of Cleveland.
    9. Daniel R. Carroll & Ross Cohen-Kristiansen, 2020. "Why Are Headline PCE and Median PCE Inflations So Far Apart?," Economic Commentary, Federal Reserve Bank of Cleveland, vol. 2020(24), pages 1-6, October.
    10. Freeman, Donald G., 1998. "Do core inflation measures help forecast inflation?," Economics Letters, Elsevier, vol. 58(2), pages 143-147, February.
    11. John O’Trakoun, 2023. "An alternative measure of core inflation: the Trimmed Persistence PCE price index," Business Economics, Palgrave Macmillan;National Association for Business Economics, vol. 58(4), pages 205-223, October.
    12. Laurence M. Ball & Mr. Daniel Leigh & Ms. Prachi Mishra & Mr. Antonio Spilimbergo, 2021. "Measuring U.S. Core Inflation: The Stress Test of COVID-19," IMF Working Papers 2021/291, International Monetary Fund.
    13. Jamie Armour, 2006. "An Evaluation of Core Inflation Measures," Staff Working Papers 06-10, Bank of Canada.
    14. Carlomagno, Guillermo & Fornero, Jorge & Sansone, Andrés, 2023. "A proposal for constructing and evaluating core inflation measures," Latin American Journal of Central Banking (previously Monetaria), Elsevier, vol. 4(3).
    15. Guillermo Carlomagno & Jorge Fornero & Andrés Sansone, 2021. "Toward a general framework for constructing and evaluating core inflation measures," Working Papers Central Bank of Chile 913, Central Bank of Chile.
    16. Pelinescu, Elena & Dospinescu, Andrei Silviu, 2008. "Alternative Measures of Core Inflation in Romania," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 5(1), pages 134-148, March.
    17. Antoine Lalliard & Pierre-Antoine Robert, 2022. "A possible new indicator to measure core inflation in the euro area [Un nouvel indicateur possible pour mesurer l’inflation sous-jacente en zone euro]," Bulletin de la Banque de France, Banque de France, issue 240.
    18. Mark A. Wynne, 2008. "Core inflation: a review of some conceptual issues," Review, Federal Reserve Bank of St. Louis, vol. 90(May), pages 205-228.
    19. Durai, S. Raja Sethu & Ramachandran, M., 2007. "Core inflation for India," Journal of Asian Economics, Elsevier, vol. 18(2), pages 365-383, April.
    20. Vega, Juan Luis & Wynne, Mark A., 2001. "An evaluation of some measures of core inflation for the euro area," Working Paper Series 0053, European Central Bank.
    21. Mark A. Wynne, 2008. "How should central banks define price stability?," Globalization Institute Working Papers 08, Federal Reserve Bank of Dallas.
    22. Michael F. Bryan & Stephen G. Cecchetti, 1993. "Monitoring core inflation," Working Papers (Old Series) 9304, Federal Reserve Bank of Cleveland.
    23. Mark A. Wynne, 2008. "Core inflation: a review of some conceptual issues," Review, Federal Reserve Bank of St. Louis, issue May, pages 205-228.
    24. Seamus Hogan & Marianne Johnson & Thérèse Laflèche, 2001. "Core Inflation," Technical Reports 89, Bank of Canada.
    25. Vega, Juan Luis & Wynne, Mark A., 2001. "An evaluation of some measures of core inflation for the euro area," Working Paper Series 53, European Central Bank.

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