Relative Prices, Inflation and Core Inflation:
Empirical evidence on the distribution of relative price changes almost invariably reveals high kurtosis and a tendency toward right-skewness. Simple mixed distribution models including volatile and infrequently adjusted prices can account for these and other common features, such as correlation bet...
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1. Verfasser: | |
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Format: | Elektronisch E-Book |
Sprache: | English |
Veröffentlicht: |
Washington, D.C
International Monetary Fund
2000
|
Schriftenreihe: | IMF Working Papers
Working Paper No. 00/58 |
Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
Zusammenfassung: | Empirical evidence on the distribution of relative price changes almost invariably reveals high kurtosis and a tendency toward right-skewness. Simple mixed distribution models including volatile and infrequently adjusted prices can account for these and other common features, such as correlation between the mean and variance of relative prices. In such circumstances, robust measures of central tendency are likely to outperform the mean or standard measures of "core" inflation as indicators of generalized inflation. The analysis also supports the use of geometric averaging in CPI construction and the targeting of the geometric mean inflation rate rather than the Laspeyres mean |
Beschreibung: | 1 Online-Ressource (43 p) |
ISBN: | 1451847858 9781451847857 |
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spelling | Roger, Scott Verfasser aut Relative Prices, Inflation and Core Inflation Roger, Scott Washington, D.C International Monetary Fund 2000 1 Online-Ressource (43 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 00/58 Empirical evidence on the distribution of relative price changes almost invariably reveals high kurtosis and a tendency toward right-skewness. Simple mixed distribution models including volatile and infrequently adjusted prices can account for these and other common features, such as correlation between the mean and variance of relative prices. In such circumstances, robust measures of central tendency are likely to outperform the mean or standard measures of "core" inflation as indicators of generalized inflation. The analysis also supports the use of geometric averaging in CPI construction and the targeting of the geometric mean inflation rate rather than the Laspeyres mean Online-Ausg http://elibrary.imf.org/view/IMF001/05666-9781451847857/05666-9781451847857/05666-9781451847857.xml Verlag URL des Erstveröffentlichers Volltext |
spellingShingle | Roger, Scott Relative Prices, Inflation and Core Inflation |
title | Relative Prices, Inflation and Core Inflation |
title_auth | Relative Prices, Inflation and Core Inflation |
title_exact_search | Relative Prices, Inflation and Core Inflation |
title_exact_search_txtP | Relative Prices, Inflation and Core Inflation |
title_full | Relative Prices, Inflation and Core Inflation Roger, Scott |
title_fullStr | Relative Prices, Inflation and Core Inflation Roger, Scott |
title_full_unstemmed | Relative Prices, Inflation and Core Inflation Roger, Scott |
title_short | Relative Prices, Inflation and Core Inflation |
title_sort | relative prices inflation and core inflation |
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