An analysis of limited-information estimators as measures of core inflation, showing that these estimators have a higher correlation with past money growth and deliver improved forecasts of future inflation relative to the Consumer Price Index.
In reevaluating the evidence of seasonality in prices, the authors find that seasonal price movements have become more prominent in the relatively stable inflation environment that has prevailed since 1982.
An examination of the potential bias that results from the expenditure-based weighting scheme CPI employs (weighting bias) and from persistent errors in measuring certain prices (measurement bias). This bias makes CPI a bad measure of inflation.
