Hidden Bibliographic Details
| Other authors / contributors: | Figueiredo, Francisco Marcos Rodrigues.
International Monetary Fund. African Department.
|
|---|
| ISBN: | 9781498374743
1498374743
1484387813
9781484387818
|
|---|
| Notes: | "January 2015."
"African Department."
Includes bibliographical references (pages 17-18).
Online resource; title from pdf title page (IMF.org Web site, viewed January 22, 2015).
|
|---|
| Summary: | Intuitively core inflation is understood as a measure of inflation where noisy price movements are avoided. This is typically achieved by either excluding or downplaying the importance of the most volatile items. However, some of those items show high persistence, and one certainly does not want to disregard persistent price changes. The non-equivalence between volatility and (the lack of) persistence implies that when one excludes volatile items relevant information is likely to be discarded. Therefore, we propose a new type of core inflation measure, one that takes simultaneously into account both volatility and persistence. The evidence shows that such measures far outperform those based on either volatility or persistence. The latter have been advocated in the literature in recent years.--Abstract.
|
|---|
| Other form: | Print version: Da Silva Filho, Tito Nícias Teixeira. A Volatility and Persistence-Based Core Inflation. Washington : International Monetary Fund, ©2015
|
|---|
| Standard no.: | 10.5089/9781484387818.001
|
|---|
