NY Fed research constructs composite model for core inflation
Core inflation is more accurately measured when price changes in goods and services are accounted for separately, according to three members of the Federal Reserve Bank of New York's research and statistics group.
The paper – The Parts Are More Than the Whole: Separating Goods and Services to Predict Core Inflation, by Richard Peach, Robert Rich, and Henry Linder – is the latest in the NY Fed's 'current issues in economics and finance' series.
The authors argue that economists have not been
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