Equilibrium correction models of the price level are often used to model inflation. Such models assume that the long …

model of inflation determination estimated on the Czech data.We characterize the estimated components of CPI, WPI and import …

In the paper we propose a new methodological approach to core inflation estimation, based on a frequency domain … principal components estimator, suited to estimate systems of fractionally cointegrated processes. The proposed core inflation … measure is the scaled common persistent factor in inflation and excess nominal money growth and bears the interpretation of …

We examine two measures of core inflation which have been proposed in recent years: the limited-influence estimators of … core inflation pioneered by Bryan and Cecchetti (1994); and the Edgeworth or variance-weighted price index discussed by … two criteria: their ability to track movements in trend inflation; and their ability to predict future headline inflation …

This paper reviews various approaches to the measurement of core inflation that have been proposed in recent years. The … objective is to determine whether the ECB should pay special attention to one or other of these measures in assessing inflation … core inflation, and propose some criteria that could be used by the ECB to choose a core inflation measure. JEL …

We propose a new core inflation measure for the Euro area which places the emphasis on the more lasting, i …. Unlike headline inflation, our baseline core inflation measure is highly correlated with ECB monetary policy decisions, which …