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- Title
SELECTED METHODS OF THE DETERMINATION OF CORE INFLATION.
- Authors
Przybylska-Mazur, Agnieszka
- Abstract
Core inflation can be defined as the part of price change, which is used to assess the medium-and long-run growth trend in the prices of consumer goods and services in the economy. Usually it is assumed that core inflation is linked to expected inflation and demand pressure and is independent of supply shocks. The core inflation indicators allow for assessing the inflationary processes in the economy and therefore they are helpful in choosing investment and monetary decisions in the medium-run and long-run. We can distinguish many measures of core inflation. Therefore, the purpose of this article is use alternative measures of core inflation based on selected low pass filter, such as: exponentially weighted moving average, Holt's exponential smoothing, Hodrick-Prescott filter and Baxter-King filter. In the article we empirically compare these alternative measures with traditional measures of core inflation calculated by the NBP.
- Subjects
PRICE inflation; CONSUMER goods sales &; prices; DECISION making in investments; INFLATION forecasting; NARODOWY Bank Polski; MARKET volatility
- Publication
Research Papers of the Wroclaw University of Economics / Prace Naukowe Uniwersytetu Ekonomicznego we Wroclawiu, 2015, Issue 381, p334
- ISSN
1899-3192
- Publication type
Article
- DOI
10.15611/pn.2015.381.25