This study compares different methods of calculating the core inflation rate, the latter being taken as the general price trend, i.e. the persistent component of measured inflation. This price trend is therefore assumed to be free of transitory price movements. This paper focuses on an empirical...

Using detailed establishment-level micro data, this paper analyzes the quantitative implications of the missing-growth hypothesis by Aghion, Bergeaud, Boppart, Klenow, and Li (2019) for Germany. This hypothesis states that actual growth rates of real output are systematically understated by...

The Hamilton method for estimating CPI bias is simple, intuitive, and has been widely adopted. We show that the method confiates CPI bias with variation in cost-of-living across income levels. Assuming a single price index across the income distribution is inconsistent with the downward sloping...

It has been known with time that no single transmission mechanism is enough to understand the monetary policy stance of that country. The objective of this paper is combine two transmission channel, interest rate and exchange rate so as to construct monetary condition index (MCI) for the gulf...