A Volatility and Persistence-Based Core Inflation /

A Volatility and Persistence-Based Core Inflation /

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...

Full description

Bibliographic Details
Main Author: da Silva Filho, Tito Nicias Teixeira
Other Authors: Marcos Rodrigues Figueiredo, Francisco
Format: Journal
Language:English
Published: Washington, D.C. : International Monetary Fund, 2015.
Series:IMF Working Papers; Working Paper ; No. 2015/008
Subjects:
Core Inflation Literature
Core Inflation Measure
Multistep Headline Inflation Forecast
Quarterly Headline Inflation
WP
Brazil
Online Access:Full text available on IMF
LEADER 02219cas a2200325 a 4500
001 AALejournalIMF014950
008 230101c9999 xx r poo 0 0eng d
020 |c 5.00 USD 
020 |z 9781484387818 
022 |a 1018-5941 
040 |a BD-DhAAL  |c BD-DhAAL 
100 1 |a da Silva Filho, Tito Nicias Teixeira. 
245 1 2 |a A Volatility and Persistence-Based Core Inflation /  |c Tito Nicias Teixeira da Silva Filho, Francisco Marcos Rodrigues Figueiredo. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 2015. 
300 |a 1 online resource (19 pages) 
490 1 |a IMF Working Papers 
500 |a <strong>Off-Campus Access:</strong> No User ID or Password Required 
500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a 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. 
538 |a Mode of access: Internet 
650 7 |a Core Inflation Literature  |2 imf 
650 7 |a Core Inflation Measure  |2 imf 
650 7 |a Multistep Headline Inflation Forecast  |2 imf 
650 7 |a Quarterly Headline Inflation  |2 imf 
650 7 |a WP  |2 imf 
651 7 |a Brazil  |2 imf 
700 1 |a Marcos Rodrigues Figueiredo, Francisco. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2015/008 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/2015/008/001.2015.issue-008-en.xml  |z IMF e-Library 

Similar Items