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P-Star as an Indicator of Inflationary Pressure

Author

Listed:
  • Peter Hoeller

    (OECD)

  • Pierre Poret

    (OECD)

Abstract

The P-star approach has been developed by the U.S. Federal Reserve as a new indicator of inflationary pressures. This paper assesses its usefulness for 20 OECD Member countries. Regression results are presented and in-sample tracking ability and forecasting performance of the equations are compared to rival inflation models and official OECD projections ... L'approche dite P-star a été développée par la Réserve Fédérale des États-Unis comme un nouvel indicateur des pressions inflationnistes. Ce papier examine son utilité pour 20 pays de l'OCDE. Des résultats de regression sont présentés ; la capacité des équations à simuler et prévoir l'évolution des prix est comparée à celle de modèles rivaux et aux projections officielles d'inflation de l'OCDE ...

Suggested Citation

  • Peter Hoeller & Pierre Poret, 1991. "P-Star as an Indicator of Inflationary Pressure," OECD Economics Department Working Papers 101, OECD Publishing.
    • Handle: RePEc:oec:ecoaaa:101-en
    DOI: 10.1787/821307064337
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    File URL: https://doi.org/10.1787/821307064337
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    Cited by:

    1. Michael Coelli & Jerome Fahrer, 1992. "Indicators of Inflationary Pressure," RBA Research Discussion Papers rdp9207, Reserve Bank of Australia.
    2. Helmut Herwartz & Hans-Eggert Reimers, 2006. "Long-Run Links among Money, Prices and Output: Worldwide Evidence," German Economic Review, Verein für Socialpolitik, vol. 7, pages 65-86, February.
    3. Michael Meow-Chung Yap, 2002. "P -Star, Exchange Rate Regime and Inflation Determination: The Malaysian case," Journal of the Asia Pacific Economy, Taylor & Francis Journals, vol. 7(3), pages 379-407.
    4. Tödter, Karl-Heinz, 2002. "Monetary indicators and policy rules in the P-star model," Discussion Paper Series 1: Economic Studies 2002,18, Deutsche Bundesbank.
    5. Mihalicova, Xenia & Gazda, Vladimír & Kubak, Matúš & Grof, Marek, 2011. "P-Star Model under the Currency Board – The Case of Bulgaria 1997-2008," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(3), pages 83-91, September.
    6. James Boughton, 1992. "International comparisons of money demand," Open Economies Review, Springer, vol. 3(3), pages 323-343, October.
    7. Hans Groeneveld, 1995. "Monetary Spill-over Effects in the ERM: The Case of Austria, a Former Shadow Member," Working Papers 20, Oesterreichische Nationalbank (Austrian Central Bank).

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