this paper the long-run trend in CPI inflation (core inflation) for Italy is estimate over the 1962-1997 period within the frame work of a multivariate common trends model. In this framework core inflation is directly linked to money and wage growth and interpreted as the long-run forecast of inflation
Morana, C., Bagliano, F. (1999). Measuring Core Inflation in Italy. GIORNALE DEGLI ECONOMISTI E ANNALI DI ECONOMIA, 58(3/4 (Dicembre 1999)), 301-328.
Measuring Core Inflation in Italy
Morana, C;
1999
Abstract
this paper the long-run trend in CPI inflation (core inflation) for Italy is estimate over the 1962-1997 period within the frame work of a multivariate common trends model. In this framework core inflation is directly linked to money and wage growth and interpreted as the long-run forecast of inflation
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