Evaluating core inflation measures in Brazil

Autor:	Cristiano Santos, Ivan Castelar
Jazyk:	portugalština
Rok vydání:	2016
Předmět:	Core inflation Measures Evaluation Forecasting Economic history and conditions HC10-1085 Economics as a science HB71-74
Zdroj:	Economia Aplicada, Vol 20, Iss 1 (2016)
Druh dokumentu:	article
ISSN:	1413-8050 1980-5330
DOI:	10.11606/1413-8050/ea134823
Popis:	This paper evaluates four core inflation indicators used by the Central Bank of Brazil; that is, the exclusion indicator, the exclusion ex2 indicator, the smoothed trimmed mean and the double weight indicator. Econometric time series models were used to assess the unbiasedness, the dynamic adjustment, and the predictive ability of core inflation indicators. The results show that only the exclusion ex2 and smoothed trimmed mean were unbiased and they can serve as indicators of dynamic adjustment for in- flation. With respect to forecast ability, one can say that the core inflation indicators used by the Central Bank are not suitable to forecast long-term inflation
Databáze:	Directory of Open Access Journals
Externí odkaz:	https://doaj.org/article/3589a297dbaf4597a7918d826ea1cf64 Zobrazit plný text záznamu View record in DOAJ