This paper introduces a new indicator of core inflation for New Zealand, estimated using a dynamic factor model and … core indicator with a wide range of other ‘core inflation’ measures estimated from disaggregate consumer prices, such as … the weighted median and the trimmed mean. The medium term inflation target of Reserve Bank of New Zealand is used as a …

This Paper proposes an index of core inflation for the euro area which exploits information from a large panel of time … component of national inflation and disregarding the idiosyncratic one, we clean inflation from measurement error, discrepancies …

In this paper we argue that measured (RPI) inflation is conceptually mismatched with core inflation: the difference is … more than just `measurement error'. We propose a technique for measuring core inflation based on an explicit long …-run economic hypothesis. Core inflation is defined as that component of measured inflation that has no (medium- to) long-run impact …

The New-Keynesian Taylor-Rule model of inflation determination with no role for money is incomplete. As Cochrane (2007a … invoked if inflation misbehaved. Thus we answer the criticisms levelled at the Taylor Rule that it has no credible mechanism …

-correction, cointegration and dynamic factor models, and has several conceptual advantages over standard ECM and FAVAR models. In particular, it …