P-Star as an Indicator of Inflationary Pressure

Peter Hoeller and Pierre Poret
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Pierre Poret: OECD

No 101, OECD Economics Department Working Papers from OECD Publishing

Abstract: The P-star approach has been developed by the U.S. Federal Reserve as a new indicator of inflationary pressures. This paper assesses its usefulness for 20 OECD Member countries. Regression results are presented and in-sample tracking ability and forecasting performance of the equations are compared to rival inflation models and official OECD projections ... L'approche dite P-star a été développée par la Réserve Fédérale des États-Unis comme un nouvel indicateur des pressions inflationnistes. Ce papier examine son utilité pour 20 pays de l'OCDE. Des résultats de regression sont présentés ; la capacité des équations à simuler et prévoir l'évolution des prix est comparée à celle de modèles rivaux et aux projections officielles d'inflation de l'OCDE ...

Date: 1991-03-01
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Persistent link: https://EconPapers.repec.org/RePEc:oec:ecoaaa:101-en

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