Fulli-Lemaire, Nicolas; Palidda, Ernesto - Volkswirtschaftliche Fakultät, … - 2012
Headline inflation in most industrialized countries, the US in particular, has been shown to be mean reverting to core … the core has dramatically gone down as a result of a major macroeconomic paradigm change. It yields lower relative … measures. In this paper, we argue for a risk reduction in ALM strategy in the form of a shift from targeting core rather than …