U.S. Core Inflation: A Wavelet Analysis | Zendy

John Cotter | Zendy; Kevin Dowd | Zendy

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U.S. Core Inflation: A Wavelet Analysis

Author(s) -

John Cotter,

Kevin Dowd

Publication year - 2006

Publication title -

ssrn electronic journal

Language(s) - English

Resource type - Journals

ISSN - 1556-5068

DOI - 10.2139/ssrn.993936

Subject(s) - wavelet , core inflation , inflation (cosmology) , core (optical fiber) , economics , keynesian economics , econometrics , monetary economics , computer science , artificial intelligence , monetary policy , inflation targeting , physics , telecommunications , theoretical physics

This paper proposes the use of wavelet methods to estimate U.S. core inflation. Itexplains wavelet methods and suggests they are ideally suited to this task.Comparisons are made with traditional CPI-based and regression-based measures fortheir performance in following trend inflation and predicting future inflation. Resultssuggest that wavelet-based measures perform better, and sometimes much better,than the traditional approaches. These results suggest that wavelet methods are apromising avenue for future research on core inflation.

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