| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP1137 |
| DP1137 Classical Business Cycles for G7 and European Countries | |
| Michael Artis; Denise Osborn; Zenon G Kontolemis | |
| 发表日期 | 1995-03-31 |
| 出版年 | 1995 |
| 语种 | 英语 |
| 摘要 | In this paper we argue that measured (RPI) inflation is conceptually mismatched with core inflation: the difference is more than just `measurement error'. We propose a technique for measuring core inflation based on an explicit long-run economic hypothesis. Core inflation is defined as that component of measured inflation that has no (medium- to) long-run impact on real output - a notion that is consistent with the vertical long-run Phillips curve interpretation of the co-movements in inflation and output. We construct a measure of core inflation by placing dynamic restrictions on a vector autoregression (VAR) system. |
| 主题 | International Macroeconomics |
| 关键词 | Core inflation Dynamic restrictions Vector autoregression |
| URL | https://cepr.org/publications/dp1137 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/530283 |
| 推荐引用方式 GB/T 7714 | Michael Artis,Denise Osborn,Zenon G Kontolemis. DP1137 Classical Business Cycles for G7 and European Countries. 1995. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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