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Measuring Core Inflation

06.01.93

An analysis of the use of limited-information estimators as measures of core inflation, showing that these estimators, such as the median of the cross-sectional distribution of inflation, have a higher correlation with past money growth and deliver improved forecasts of future inflation relative to the Consumer Price Index.

Suggested citation: Bryan, Michael, and Stephen Cecchetti, 1993. “Measuring Core Inflation,” Federal Reserve Bank of Cleveland, Working Paper no. 93-04.

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