Behavior of a New Median PCE Measure: A Tale of Tails
Author
Abstract
Suggested Citation
DOI: 10.26509/frbc-ec-201910
Download full text from publisher
References listed on IDEAS
- Richard Ashley & Randal J. Verbrugge, 2019. "The Intermittent Phillips Curve: Finding a Stable (But Persistence-Dependent) Phillips Curve Model Specification," Working Papers 19-09R2, Federal Reserve Bank of Cleveland, revised 14 Feb 2023.
- Mick Silver, 2007. "Core Inflation: Measurement and Statistical Issues in Choosing Among Alternative Measures," IMF Staff Papers, Palgrave Macmillan, vol. 54(1), pages 163-190, May.
- Jim Dolmas, 2005. "Trimmed mean PCE inflation," Working Papers 0506, Federal Reserve Bank of Dallas.
- Brent Meyer & Saeed Zaman, 2019.
"The usefulness of the median CPI in Bayesian VARs used for macroeconomic forecasting and policy,"
Empirical Economics, Springer, vol. 57(2), pages 603-630, August.
- Brent Meyer & Saeed Zaman, 2016. "The Usefulness of the Median CPI in Bayesian VARs Used for Macroeconomic Forecasting and Policy," FRB Atlanta Working Paper 2016-13, Federal Reserve Bank of Atlanta.
- Michael F. Bryan & Christopher J. Pike, 1991. "Median price changes: an alternative approach to measuring current monetary inflation," Economic Commentary, Federal Reserve Bank of Cleveland, issue Dec.
- Michael F. Bryan & Stephen G. Cecchetti & Rodney L. Wiggins II, 1997.
"Efficient Inflation Estimation,"
NBER Working Papers
6183, National Bureau of Economic Research, Inc.
- Michael F. Bryan & Stephen G. Cecchetti & Rodney L. Wiggins, 1997. "Efficient inflation estimation," Working Papers (Old Series) 9707, Federal Reserve Bank of Cleveland.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Saeed Zaman, 2019. "Cyclical versus Acyclical Inflation: A Deeper Dive," Economic Commentary, Federal Reserve Bank of Cleveland, issue September.
- Daniel R. Carroll & Ross Cohen-Kristiansen, 2020. "Why Are Headline PCE and Median PCE Inflations So Far Apart?," Economic Commentary, Federal Reserve Bank of Cleveland, vol. 2020(24), pages 1-6, October.
- Garciga, Christian & Verbrugge, Randal, 2021. "Robust covariance matrix estimation and identification of unusual data points: New tools," Research in Economics, Elsevier, vol. 75(2), pages 176-202.
- Verbrugge, Randal & Zaman, Saeed, 2024.
"Improving inflation forecasts using robust measures,"
International Journal of Forecasting, Elsevier, vol. 40(2), pages 735-745.
- Randal J. Verbrugge & Saeed Zaman, 2022. "Improving Inflation Forecasts Using Robust Measures," Working Papers 22-23R, Federal Reserve Bank of Cleveland, revised 30 May 2023.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Antoine Lalliard & Pierre-Antoine Robert, 2022. "A possible new indicator to measure core inflation in the euro area [Un nouvel indicateur possible pour mesurer l’inflation sous-jacente en zone euro]," Bulletin de la Banque de France, Banque de France, issue 240.
- Brent Meyer & Guhan Venkatu, 2012.
"Trimmed-mean inflation statistics: just hit the one in the middle,"
Working Papers (Old Series)
1217, Federal Reserve Bank of Cleveland.
- Brent Meyer & Guhan Venkatu, 2014. "Trimmed-Mean Inflation Statistics: Just Hit the One in the Middle," FRB Atlanta Working Paper 2014-3, Federal Reserve Bank of Atlanta.
- Castañeda, Juan Carlos & Chang, Rodrigo, 2023. "Evaluating core inflation measures: A statistical inference approach," Latin American Journal of Central Banking (previously Monetaria), Elsevier, vol. 4(4).
- Brent Meyer & Saeed Zaman, 2019.
"The usefulness of the median CPI in Bayesian VARs used for macroeconomic forecasting and policy,"
Empirical Economics, Springer, vol. 57(2), pages 603-630, August.
- Brent Meyer & Saeed Zaman, 2016. "The Usefulness of the Median CPI in Bayesian VARs Used for Macroeconomic Forecasting and Policy," FRB Atlanta Working Paper 2016-13, Federal Reserve Bank of Atlanta.
- Oguz Atuk & Mustafa Utku Ozmen, 2009.
"Design and Evaluation of Core Inflation Measures for Turkey,"
Working Papers
0903, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
- Oğuz Atuk & Mustafa Utku Özmen, 2009. "Design and evaluation of core inflation measures for Turkey," IFC Working Papers 3, Bank for International Settlements.
- Carlomagno, Guillermo & Fornero, Jorge & Sansone, Andrés, 2023. "A proposal for constructing and evaluating core inflation measures," Latin American Journal of Central Banking (previously Monetaria), Elsevier, vol. 4(3).
- Guillermo Carlomagno & Jorge Fornero & Andrés Sansone, 2021. "Toward a general framework for constructing and evaluating core inflation measures," Working Papers Central Bank of Chile 913, Central Bank of Chile.
- Jim Dolmas & Mark A. Wynne, 2008. "Measuring core inflation: notes from a 2007 Dallas Fed conference," Staff Papers, Federal Reserve Bank of Dallas, issue May.
- Mark A. Wynne, 2008.
"Core inflation: a review of some conceptual issues,"
Review, Federal Reserve Bank of St. Louis, vol. 90(May), pages 205-228.
- Mark A. Wynne, 1999. "Core inflation: a review of some conceptual issues," Working Papers 9903, Federal Reserve Bank of Dallas.
- Wynne, Mark A., 1999. "Core inflation: a review of some conceptual issues," Working Paper Series 5, European Central Bank.
- Ball, Laurence & Carvalho, Carlos & Evans, Christopher & Antonio Ricci, Luca, 2024.
"Weighted Median Inflation Around the World: A Measure of Core Inflation,"
Journal of International Money and Finance, Elsevier, vol. 142(C).
- Ball, Laurence & Carvalho, Carlos & Evans, Christopher & Ricci, Luca Antonio, 2023. "Weighted Median Inflation Around the World: A Measure of Core Inflation," CEPR Discussion Papers 18011, C.E.P.R. Discussion Papers.
- Laurence M. Ball & Carlos Carvalho & Christopher Evans & Mr. Luca A Ricci, 2023. "Weighted Median Inflation Around the World: A Measure of Core Inflation," IMF Working Papers 2023/044, International Monetary Fund.
- Laurence M. Ball & Carlos Carvalho & Christopher Evans & Luca Antonio Ricci, 2023. "Weighted Median Inflation Around the World: A Measure of Core Inflation," NBER Working Papers 31032, National Bureau of Economic Research, Inc.
- Seamus Hogan & Marianne Johnson & Thérèse Laflèche, 2001. "Core Inflation," Technical Reports 89, Bank of Canada.
- Jamie Armour, 2006. "An Evaluation of Core Inflation Measures," Staff Working Papers 06-10, Bank of Canada.
- Laurence Ball & Sandeep Mazumder, 2020.
"The Nonpuzzling Behavior of Median Inflation,"
Central Banking, Analysis, and Economic Policies Book Series, in: Gonzalo Castex & Jordi Galí & Diego Saravia (ed.),Changing Inflation Dynamics,Evolving Monetary Policy, edition 1, volume 27, chapter 3, pages 049-070,
Central Bank of Chile.
- Laurence Ball & Sandeeo Mazumder, 2019. "The Nonpuzzling Behavior of Median Inflation," Working Papers Central Bank of Chile 843, Central Bank of Chile.
- Laurence M. Ball & Sandeep Mazumder, 2019. "The Nonpuzzling Behavior of Median Inflation," NBER Working Papers 25512, National Bureau of Economic Research, Inc.
- Laurence M. Ball & Daniel Leigh & Prachi Mishra & Antonio Spilimbergo, 2021.
"Measuring U.S. Core Inflation: The Stress Test of COVID-19,"
NBER Working Papers
29609, National Bureau of Economic Research, Inc.
- Laurence M. Ball & Mr. Daniel Leigh & Ms. Prachi Mishra & Mr. Antonio Spilimbergo, 2021. "Measuring U.S. Core Inflation: The Stress Test of COVID-19," IMF Working Papers 2021/291, International Monetary Fund.
- Marlene Amstad & Simon M. Potter & Robert W. Rich, 2014.
"The FRBNY staff underlying inflation gauge: UIG,"
Staff Reports
672, Federal Reserve Bank of New York.
- Marlene Amstad & Simon Potter & Robert Rich, 2014. "The FRBNY Staff Underlying Inflation Gauge: UIG," BIS Working Papers 453, Bank for International Settlements.
- Durai, S. Raja Sethu & Ramachandran, M., 2007. "Core inflation for India," Journal of Asian Economics, Elsevier, vol. 18(2), pages 365-383, April.
- Vega, Juan Luis & Wynne, Mark A., 2001. "An evaluation of some measures of core inflation for the euro area," Working Paper Series 0053, European Central Bank.
- Janet Koech & Mark Wynne, 2013.
"Core Import Price Inflation in the United States,"
Open Economies Review, Springer, vol. 24(4), pages 717-730, September.
- Janet Koech & Mark A. Wynne, 2012. "Core import price inflation in the United States," Globalization Institute Working Papers 131, Federal Reserve Bank of Dallas.
- Verbrugge, Randal & Zaman, Saeed, 2024.
"Improving inflation forecasts using robust measures,"
International Journal of Forecasting, Elsevier, vol. 40(2), pages 735-745.
- Randal J. Verbrugge & Saeed Zaman, 2022. "Improving Inflation Forecasts Using Robust Measures," Working Papers 22-23R, Federal Reserve Bank of Cleveland, revised 30 May 2023.
- Pelinescu, Elena & Dospinescu, Andrei Silviu, 2008. "Alternative Measures of Core Inflation in Romania," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 5(1), pages 134-148, March.
Corrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:fip:fedcec:00102. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: 4D Library (email available below). General contact details of provider: https://edirc.repec.org/data/frbclus.html .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.