دانلود مقاله ISI انگلیسی شماره 47452
عنوان فارسی مقاله

یک ارزیابی انتقادی از تخمین موجود از هسته تورم آمریکا

کد مقاله سال انتشار مقاله انگلیسی ترجمه فارسی تعداد کلمات
47452 2010 15 صفحه PDF سفارش دهید محاسبه نشده
خرید مقاله
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عنوان انگلیسی
A critical assessment of existing estimates of US core inflation ☆
منبع

Publisher : Elsevier - Science Direct (الزویر - ساینس دایرکت)

Journal : Journal of Macroeconomics, Volume 32, Issue 4, December 2010, Pages 993–1007

کلمات کلیدی
هسته تورم - پیش بینی
پیش نمایش مقاله
پیش نمایش مقاله یک ارزیابی انتقادی از تخمین موجود از هسته تورم آمریکا

چکیده انگلیسی

Core inflation rates are widely calculated. The perceived benefit of core inflation rates is that they help to inform monetary policy. This is achieved by uncovering the underlying trend in inflation or by helping to forecast inflation. Studies which compare core inflation rates frequently assess candidate core rates on these two criteria. Using US data, the two standard tests of core inflation – the ability to track trend inflation and the ability to forecast inflation – are applied to a more comprehensive set of core inflation rates than has been the case in the literature to date. Furthermore, the tests are applied in a more rigorous fashion. A key difference in this paper is the inclusion of benchmarks to the tests, which is non-standard in the literature. Two problems with core inflation rates emerge. Firstly, it is very difficult to distinguish between different core rates according to these tests, as they tend to perform to a very similar level. Secondly, once the benchmarks are introduced to the tests, the core inflation rates fail to outperform the benchmarks. This failure suggests that core inflation rates are of less practical usefulness than previously thought.

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