This paper has two main objectives. The first objective is to propose a new indicator of core inflation, which is obtained by cleaning month on month relative price fluctuations from overall price changes and idiosyncratic dynamics. We use a factor model with the subcomponents of CPI inflation...

This paper analyzes the common factor that drives the cyclical movements in the corporate event waves. We show that this common corporate factor is closely linked to the economic business cycles. We, first, document the statistical and the time-series properties of the corporate event waves to...