Working Paper
Measuring Core Inflation
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.
Working Papers of the Federal Reserve Bank of Cleveland are preliminary materials circulated to stimulate discussion and critical comment on research in progress. They may not have been subject to the formal editorial review accorded official Federal Reserve Bank of Cleveland publications. The views expressed in this paper are those of the authors and do not represent the views of the Federal Reserve Bank of Cleveland or the Federal Reserve System.
Suggested Citation
Bryan, Michael F., and Stephen Cecchetti. 1993. “Measuring Core Inflation.” Federal Reserve Bank of Cleveland, Working Paper No. 93-04. https://doi.org/10.26509/frbc-wp-199304
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