This paper investigates the use of trimmed means as high-frequency estimators of" inflation. The known characteristics … that simple averages of price data are" unlikely to produce efficient estimates of inflation. Trimmed means produce … superior estimates" of core inflation,' which we define as a long-run centered moving average of CPI and PPI" inflation. We …

As inflation approaches zero, it becomes increasingly important to examine the price indices on which monetary policy … index of the cost-of-living, is that there are likely to be biases in the index as a measure of inflation. In this paper we … inherent in the CPI as a measure of inflation--weighting bias. Utilizing a dynamic factor model we are able to compute the …

space have dominated the estimation. The recent papers of Hendershott (1996) and Hendershott, Lizieri and Matysiak (HLM …

wage change is positively correlated with the unemployment rate and with the consumer price inflation rate …

Inflation equals the product of two terms: an extensive margin (the fraction of items with price changes) and an … intensive margin (the average size of those price changes). The variance of inflation over time can be decomposed into … intensive margin is the sole source of inflation changes in staggered time-dependent pricing models. We use micro data collected …

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 …