Core Inflation in the Euro Area

Fabio C. Bagliano (), Roberto Golinelli () and Claudio Morana

Applied Economics Letters, 2002, vol. 9, issue 6, pages 353-57

Abstract: Using a common trends model, a forward-looking "core" inflation measure is estimated for the Euro area based on long-run relations among major macroeconomic variables, bearing the interpretation of long-run inflation forecast. The proposed measure may be particularly suitable for the "two-pillar" monetary policy strategy of the ECB which focuses on medium-term inflation prospects. Copyright 2002 by Taylor and Francis Group

Date: 2002
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