Evaluación de indicadores de inflación subyacente para Uruguay

Fernanda Cuitiño (), Fiorella Tramontin () and Leonardo Vicente ()
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Fernanda Cuitiño: Banco Central del Uruguay
Fiorella Tramontin: Banco Central del Uruguay
Leonardo Vicente: Banco Central del Uruguay

No 2011011, Documentos de trabajo from Banco Central del Uruguay

Abstract: This document assesses a range of core inflation indicators, including traditional indicators, which arise from the transformation of CPI data and broader indicators, in which additional information is considered. These are assessed between 2004.01-2010.12 on the basis of statistical criteria, other desirable characteristics and episode analysis. We find that, within the analyzed indicators, five of them, constructed with different methodologies, fulfill all of the selection criteria. Thus, simple indicators, as the asymmetric trimmed mean and those that reweigh by variability contend suitably with more sophisticated indicators, as those based on factor analysis or models. Therefore, these are candidates to be included in a set of indicators of core inflation, focusing on their evolution rather than their level.

Keywords: core; inflation; evaluation; inflación; subyacente; evaluación (search for similar items in EconPapers)
JEL-codes: C43 C52 C53 C82 E31 (search for similar items in EconPapers)
Pages: 46 pages
Date: 2011-12
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Citations: View citations in EconPapers (1)

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