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Technical Note: Does Core Inflation Help Forecast Total Inflation? Evidence from Colombia

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  • John Thornton

Abstract

In Colombia core and total inflation are both (1) series, and core inflation is cointegrated with total inflation. Granger causality tests using error correction methodology indicate that divergence of total inflation from core inflation is quickly revers

Suggested Citation

  • John Thornton, 1998. "Technical Note: Does Core Inflation Help Forecast Total Inflation? Evidence from Colombia," Latin American Journal of Economics-formerly Cuadernos de Economía, Instituto de Economía. Pontificia Universidad Católica de Chile., vol. 35(106), pages 407-413.
  • Handle: RePEc:ioe:cuadec:v:35:y:1998:i:106:p:407-413
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    File URL: http://www.economia.uc.cl/docs/106thora.pdf
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    References listed on IDEAS

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    1. Schwert, G. William, 1987. "Effects of model specification on tests for unit roots in macroeconomic data," Journal of Monetary Economics, Elsevier, vol. 20(1), pages 73-103, July.
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    Keywords

    Core inflation; forecasting inflation; cointegration; granger causality;

    JEL classification:

    • C4 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit

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