haku: @author Quah, D. / yhteensä: 2
viite: 1 / 2
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Tekijä: | Quah, D. Vahey, S. |
Otsikko: | Measuring core inflation |
Lehti: | Economic Journal
1995 : SEP, VOL. 105:432, p. 1130-1144 |
Asiasana: | ECONOMICS MEASUREMENT INFLATION |
Kieli: | eng |
Tiivistelmä: | In this paper the authors argue that measured (RPI) inflation is conceptually mismatched with core inflation. The difference is more than just "measurement error". The authors propose a technique for measuring core inflation , based on an explicit long-run economic hypothesis. Core inflation is defined like a component of measured inflation that has no (medium-to) long-run impact on red output - a notion that is consistent with the vertical long-run Phillips curve interpretation of the comovements in inflation and output. |
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