This paper focuses on the core inflation measurement in Italy using univariate (national-level inflation) vs. multivariate (city-level inflation) models during the period 1970–2006. We derive algebraic expressions that allow comparison between the reduced form parameters of univariate and...

The nonlinear modelization has experimented a great resurgence of the hand of Chaos Theory, which shown the possibility of obtaining complex behaviors produced endogenously by the dynamics of the model, without the necessity to include exogenous random shocks. On the other hand, the importance...

Electricity price time series usually exhibit some form of nonstationarity, corresponding to long-term behavior, one or more periodic components as well as dependence on calendar effects. As a result, modeling electricity prices requires accounting for both long-term and periodic components. In...