Finding Optimal Measures of Core Inflation in the Kyrgyz Republic

Uzagalieva Ainura ()

EERC Working Paper Series from EERC Research Network, Russia and CIS

Abstract: The ideal measure of inflation reflects long-run price movements driven by actual demand in the economy and excludes short-term supply shocks. Considering that CPI does not correspond to such a measure, the purpose of this research is to analyze alternative methods of core (or underlying) inflation and to determine the efficient measure of core inflation suitable for the Kyrgyz Republic. The results of the project are intended for the National Bank of the Kyrgyz Republic (for proper monetary policy reaction to inflationary shifts), the Ministry of Finance (for budget forecasting), for the National Statistics Committee (the concept of core inflation does not yet exist in the Kyrgyz economic reporting system).

Keywords: Kyrgyz Republic; inflation; core inflation; monetary policy; smoothing; optimality criteria (search for similar items in EconPapers)
JEL-codes: E31 E52 (search for similar items in EconPapers)
Pages: 37 pages
Date: 2004-01-10
New Economics Papers: this item is included in nep-cis, nep-mac, nep-mon and nep-tra
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