Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/212834
Authors: 
Deryugina, Elena
Ponomarenko, Alexey
Sinyakov, Andrey
Sorokin, Constantine
Year of Publication: 
2015
Series/Report no.: 
BOFIT Discussion Papers 24/2015
Abstract: 
​We apply several tests to the underlying inflation metrics used in practice by central banks and/or proposed in the scientific literature, in an attempt to find the best-performing indicators. We find that although there is no single best measure of underlying inflation, indicators calculated on the basis of dynamic factor models are generally among the best performers. These best performers not only outdid the simpler traditional underlying indicators (trimmed and exclusion-based measures) but also proved to be economically meaningful and inter-pretable.
JEL: 
E31
E32
E52
C32
Persistent Identifier of the first edition: 
ISBN: 
978-952-323-063-7
Document Type: 
Working Paper

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