We discuss the concept of core inflation and its relevance for policymakers and then review a variety of approaches that have been pursued for the construction of informative core measures. After illustrating some empirical patterns displayed by U.S. inflation data and discussing conceptual...

The natural rate of interest, often interpreted as the equilibrium real interest rate, serves as a critical benchmark for evaluating the stance of monetary policy. This paper investigates the natural rate of interest in Uzbekistan using three econometric approaches: the HLW-type model1 , a...

The natural rate of interest, often interpreted as the equilibrium real interest rate, serves as a critical benchmark for evaluating the stance of monetary policy. This paper investigates the natural rate of interest in Uzbekistan using three econometric approaches: the HLW-type model1 , a...

We estimate the slope of the Phillips curve in Mexico between 2005 and 2020 using city level data. We overcome the endogeneity of unemployment and core inflation through a panel instrumental variable strategy. Time-period fixed effects account for aggregate supply, demand, and expectation...