Bagliano, Fabio C.; Morana, Claudio - In: Giornale degli Economisti 58 (1999) 3-4, pp. 301-328
In this paper the long-run trend in CPI inflation (core inflation) for Italy is estimate over the 1962-1997 period within the frame work of a multivariate common trends model. In this framework core inflation is directly linked to money and wage growth and interpreted as the long-run forecast of...