Core inflation in the Euro area

Fabio Bagliano, Roberto Golinelli and Claudio Morana

Applied Economics Letters, 2002, vol. 9, issue 6, 353-357

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.

Date: 2002
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Persistent link: https://EconPapers.repec.org/RePEc:taf:apeclt:v:9:y:2002:i:6:p:353-357

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DOI: 10.1080/13504850110086035

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