Core import price inflation in the United States
Janet Koech and
Mark Wynne ()
No 131, Globalization Institute Working Papers from Federal Reserve Bank of Dallas
The cross-section distribution of U.S. import prices exhibits some of the fat-tailed characteristics that are well documented for the cross-section distribution of U.S. consumer prices. This suggests that limited-influence estimators of core import price inflation might outperform headline or traditional measures of core import price inflation. We examine whether limited influence estimators of core import price inflation help forecast overall import price inflation. They do not. However, limited influence estimators of core import price inflation do seem to have some predictive power for headline consumer price inflation in the medium term.
JEL-codes: E31 E37 (search for similar items in EconPapers)
Pages: 21 pages
New Economics Papers: this item is included in nep-for, nep-mac and nep-mon
Note: Published as: Koech, Janet and Mark A. Wynne (2013), "Core Import Price Inflation in the United States," Open Economies Review 24 (4): 717-730.
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Journal Article: Core Import Price Inflation in the United States (2013)
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Persistent link: https://EconPapers.repec.org/RePEc:fip:feddgw:131
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