This paper evaluates the usefulness of various measures of core inflation for the conduct of monetary policy …. Traditional exclusion-based measures of core inflation are found to perform relatively poorly across a range of evaluation … move with macroeconomic drivers. All measures of core inflation, however, have limitations - consequently, there is merit …

We provide an updated evaluation of the value of various measures of core inflation that could be used in the conduct … of monetary policy. We find that the Bank of Canada's current preferred measures of core inflation-CPI-trim, CPI … biased, less volatile and much more persistent relative to alternative core measures and CPI inflation. They are also still …

This paper examines the characteristics of the revisions to the inflation rate as measured by the personal consumption … Reserve's analysis of inflation. The author examines the magnitude and patterns of revisions to both PCE inflation rates. The … following year. Generally, the initial release of inflation is too low and is likely to be revised up. Policymakers should …

There is no unifying framework for evaluating core inflation measures, so we propose a methodological framework to … close this gap. It allows us to construct, evaluate, and rank core inflation measures by applying it to countries and … the usual indicator that excludes food and energy, which is the most widespread measure of core inflation among central …

This paper studies monetary policy rules in a small open economy with Inflation Targeting, incomplete pass-through and …

In closed or open economy models with complete markets, targeting core inflation enables monetary policy to maximize … is high. We develop an open economy model with incomplete financial markets to show that headline inflation targeting … headline inflation, assigns zero weight to import prices. …