Goyal, Ashima - eSocialSciences - 2009
data. While core inflation is measured with the VSC, the HSC requires a new concept of demand-driven inflation: Residual … both estimated. The data favors the HSC, but both identifications imply that policy demand squeeze aggravated international … (demand) inflation, which gives the impact of short and medium run demand shocks on inflation. Core and residual inflation are …