An alternative measure of core inflation

We combine the ideas of the trimmed mean and the Edgeworth index to construct an alternative measure of core inflation named Trim of Most Volatile Components (TMVC). At each point of time this measure trims away the components of the price index, which have been most volatile in the past. TMVC tracks trend inflation better than other core inflation measures in the euro zone, but in the US the evidence is weaker.

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Year of publication:	2005
Authors:	Pedersen, Michael
Publisher:	Copenhagen : Danmarks Nationalbank
Subject:	Inflationsrate \| Kerninflation \| Indexberechnung \| core inflation \| trimmedmean \| Edgeworth index \| TMVC

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Series:	Danmarks Nationalbank Working Papers ; 33
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	50444218X [GVK] hdl:10419/82321 [Handle]
Classification:	E31 - Price Level; Inflation; Deflation ; C43 - Index Numbers and Aggregation
Source:	EconStor

Persistent link: https://www.econbiz.de/10010321184