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Median price changes: an alternative approach to measuring current monetary inflation

Author

Listed:
  • Michael F. Bryan
  • Christopher J. Pike

Abstract

An analysis concluding that inflation measures based on median price changes are a better indicator than measures based on mean price changes.

Suggested Citation

  • 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.
    • Handle: RePEc:fip:fedcec:y:1991:i:dec1
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    Citations

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    Cited by:

    1. Carlos Felipe Jaramillo & Edgar Caicedo & Adolfo Cobo & Andrés González & Munir Jalil & Juan Manuel Julio & Luis Fernando Melo, 1999. "La Inflación Básica en Colombia: Evaluación de Indicadores Alternativos," Borradores de Economia 136, Banco de la Republica de Colombia.
    2. Scott Roger, 1998. "Core inflation: concepts, uses and measurement," Reserve Bank of New Zealand Discussion Paper Series G98/9, Reserve Bank of New Zealand.
    3. repec:bla:germec:v:4:y:2003:i::p:269-306 is not listed on IDEAS
    4. Bodenstein, Martin & Erceg, Christopher J. & Guerrieri, Luca, 2008. "Optimal monetary policy with distinct core and headline inflation rates," Journal of Monetary Economics, Elsevier, vol. 55(Supplemen), pages 18-33, October.
    5. 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.
    6. Daniel R. Carroll & Randal J. Verbrugge, 2019. "Behavior of a New Median PCE Measure: A Tale of Tails," Economic Commentary, Federal Reserve Bank of Cleveland, vol. 2019(10), July.
    7. Landau, Bettina, 2000. "Core inflation rates: a comparison of methods based on west German data," Discussion Paper Series 1: Economic Studies 2000,04, Deutsche Bundesbank.
    8. 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.
    9. 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.
    10. Freeman, Donald G., 1998. "Do core inflation measures help forecast inflation?," Economics Letters, Elsevier, vol. 58(2), pages 143-147, February.
    11. John O’Trakoun, 2023. "An alternative measure of core inflation: the Trimmed Persistence PCE price index," Business Economics, Palgrave Macmillan;National Association for Business Economics, vol. 58(4), pages 205-223, October.
    12. 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.
    13. Jamie Armour, 2006. "An Evaluation of Core Inflation Measures," Staff Working Papers 06-10, Bank of Canada.
    14. 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).
    15. 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.
    16. 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.
    17. 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.
    18. 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.
    19. 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).
    20. Durai, S. Raja Sethu & Ramachandran, M., 2007. "Core inflation for India," Journal of Asian Economics, Elsevier, vol. 18(2), pages 365-383, April.
    21. Mark A. Wynne, 2008. "How should central banks define price stability?," Globalization Institute Working Papers 08, Federal Reserve Bank of Dallas.
    22. Michael F. Bryan & Stephen G. Cecchetti, 1993. "Monitoring core inflation," Working Papers (Old Series) 9304, Federal Reserve Bank of Cleveland.
    23. Seamus Hogan & Marianne Johnson & Thérèse Laflèche, 2001. "Core Inflation," Technical Reports 89, Bank of Canada.
    24. Vega, Juan Luis & Wynne, Mark A., 2001. "An evaluation of some measures of core inflation for the euro area," Working Paper Series 53, European Central Bank.

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