rent index is biased downward for all of the last century. The CPI rises roughly 2 percent per year slower than quality …-unadjusted indexes of gross rent, setting a challenge for this research of measuring the rate of quality change in rental apartments. If …

In this paper, we investigate the use of limited-information estimators as measures of core inflation. Employing a …-sectional distribution of inflation can cause substantial noise in the aggregate price index at high frequencies. The model suggests that … limited-influence estimators, such as the median of the cross-sectional distribution of inflation, will provide superior short …

Inflation dynamics have been difficult to explain over the last decade. This paper explores if a more comprehensive … treatment of globalization can help. CPI inflation has become more synchronized around the world since the 2008 crisis, but core … and wage inflation have become less synchronized. Global factors (including commodity prices, world slack, exchange rates …

The standard measure of core or underlying inflation is the inflation rate excluding food and energy prices. This paper … constructs an alternative measure, the weighted median inflation rate, for 38 advanced and emerging economies using subclass …, and more closely related to headline inflation over the next year. The weighted median also has a drawback: in most …

This paper analyzes the long-run determinants of inflation differentials in a monetary union. First, we aim at …some stylized facts relating the regional dispersion in headline inflation rates in the euro area as well as in the … category of the EU's harmonized consumer price index (HICP). We then lay out a model of a monetary union with fully flexible …

aggregation strategies and actual prices paid by consumers. We demonstrate that our methodology improves inflation measurement …

Official price indexes, such as the CPI, are imperfect indicators of inflation calculated using ad hoc price formulae … different from the theoretically well-founded inflation indexes favored by economists. This paper provides the first estimate of … how accurately the CPI informs us about "true" inflation. We use the largest price and quantity dataset ever employed in …

This paper shows that conventional measures of cost-of-living inflation, based on static models of consumption, suffer …

The debate over including asset prices in the construction of an inflation statistic has attracted renewed attention in … inflation at the retail level. In this paper, we take an alternative, longer-term perspective on the issue and argue that the … exclusion of asset prices introduces an 'excluded goods bias' in the computation of the inflation statistic that is of interest …