This paper investigates the forecasting accuracy of the trimmed mean inflation rate of the Personal Consumption Expenditure (PCE) deflator. Earlier works have examined the forecasting ability of limited-influence estimators (trimmed means and the weighted median) of the Consumer Price Index but...

Recent papers examining the measurement of core inflation, such as the weighted median, have focused on cross-section information in disaggregated inflation data. This paper improves on the literature by introducing a new measure of core inflation that exploits the time-series information in...

This paper investigates core inflation defined as the best predictor of US inflation. I compare forecasts obtained using the weighted median consumer price index inflation rate, a trimmed mean consumer price index inflation rate, the consumer price index inflation rate and the consumer price...

This paper examines the interaction of core inflation and monetary policy. Interest in core has grown because of inflation targeting. Core inflation is defined in numerous ways giving rise to many potential measures; I define core inflation as the best forecaster of inflation. A cross-country...