How much to trim? A methodology for calculating core inflation, with an application for Brazil

Detalhes bibliográficos
Autor(a) principal: Picchetti, Paulo
Data de Publicação: 2000
Outros Autores: Toledo, Celso
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Economia Aplicada
Texto Completo: https://www.revistas.usp.br/ecoa/article/view/145207
Resumo: The concept of core inflation has been central to the discussions concerning macroeconomic policy management. In spite of this fact, no single measure of this concept has achieved consensus so far. Here, we propose the application of a statistical methodology based on trimmed means, where the amount of trim is based on a benchmark provided by a common stochastic components model, which we believe captures the essence of the core inflation concept. We apply this measure to the IPC-FIPE and IPCA-IBGE, two of the leading consumer price indexes in Brazil, and comment on the results.
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spelling How much to trim? A methodology for calculating core inflation, with an application for BrazilHow much to trim? A methodology for calculating core inflation, with an application for Brazilnúcleo da inflaçãomédias aparadascore inflationtrimmed meansThe concept of core inflation has been central to the discussions concerning macroeconomic policy management. In spite of this fact, no single measure of this concept has achieved consensus so far. Here, we propose the application of a statistical methodology based on trimmed means, where the amount of trim is based on a benchmark provided by a common stochastic components model, which we believe captures the essence of the core inflation concept. We apply this measure to the IPC-FIPE and IPCA-IBGE, two of the leading consumer price indexes in Brazil, and comment on the results.O conceito de núcleo da inflação tem ocupado um papel central nas discussões envolvendo políticas macroeconômicas. A despeito disso, nenhuma medida consensual deste conceito existe até agora. Neste artigo, propomos a aplicação da metodologia estatística baseada em médias aparadas, onde o tamanho da apara é baseado em uma referência proporcionada por modelos de componentes estocásticos comuns, os quais acreditamos captar a essência do conceito de nucleo da inflação. Estas medidas são aplicadas ao IPC-FIPE e ao IPCA-IBGE, dois dos principais índices de preços ao consumidor no Brasil, e comentamos os resultados.Universidade de São Paulo, FEA-RP/USP2000-12-01info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersionapplication/pdfhttps://www.revistas.usp.br/ecoa/article/view/14520710.11606/1980-5330/ea145207Economia Aplicada; Vol. 4 Núm. 4 (2000); 683-704Economia Aplicada; Vol. 4 No. 4 (2000); 683-704Economia Aplicada; v. 4 n. 4 (2000); 683-7041980-53301413-8050reponame:Economia Aplicadainstname:Universidade de São Paulo (USP)instacron:USPenghttps://www.revistas.usp.br/ecoa/article/view/145207/139300Copyright (c) 2000 Economia Aplicadahttp://creativecommons.org/licenses/by-nc/4.0info:eu-repo/semantics/openAccessPicchetti, PauloToledo, Celso2023-10-24T22:27:25Zoai:revistas.usp.br:article/145207Revistahttps://www.revistas.usp.br/ecoaPUBhttps://www.revistas.usp.br/ecoa/oai||revecap@usp.br1980-53301413-8050opendoar:2023-10-24T22:27:25Economia Aplicada - Universidade de São Paulo (USP)false
dc.title.none.fl_str_mv How much to trim? A methodology for calculating core inflation, with an application for Brazil
How much to trim? A methodology for calculating core inflation, with an application for Brazil
title How much to trim? A methodology for calculating core inflation, with an application for Brazil
spellingShingle How much to trim? A methodology for calculating core inflation, with an application for Brazil
Picchetti, Paulo
núcleo da inflação
médias aparadas
core inflation
trimmed means
title_short How much to trim? A methodology for calculating core inflation, with an application for Brazil
title_full How much to trim? A methodology for calculating core inflation, with an application for Brazil
title_fullStr How much to trim? A methodology for calculating core inflation, with an application for Brazil
title_full_unstemmed How much to trim? A methodology for calculating core inflation, with an application for Brazil
title_sort How much to trim? A methodology for calculating core inflation, with an application for Brazil
author Picchetti, Paulo
author_facet Picchetti, Paulo
Toledo, Celso
author_role author
author2 Toledo, Celso
author2_role author
dc.contributor.author.fl_str_mv Picchetti, Paulo
Toledo, Celso
dc.subject.por.fl_str_mv núcleo da inflação
médias aparadas
core inflation
trimmed means
topic núcleo da inflação
médias aparadas
core inflation
trimmed means
description The concept of core inflation has been central to the discussions concerning macroeconomic policy management. In spite of this fact, no single measure of this concept has achieved consensus so far. Here, we propose the application of a statistical methodology based on trimmed means, where the amount of trim is based on a benchmark provided by a common stochastic components model, which we believe captures the essence of the core inflation concept. We apply this measure to the IPC-FIPE and IPCA-IBGE, two of the leading consumer price indexes in Brazil, and comment on the results.
publishDate 2000
dc.date.none.fl_str_mv 2000-12-01
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv https://www.revistas.usp.br/ecoa/article/view/145207
10.11606/1980-5330/ea145207
url https://www.revistas.usp.br/ecoa/article/view/145207
identifier_str_mv 10.11606/1980-5330/ea145207
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv https://www.revistas.usp.br/ecoa/article/view/145207/139300
dc.rights.driver.fl_str_mv Copyright (c) 2000 Economia Aplicada
http://creativecommons.org/licenses/by-nc/4.0
info:eu-repo/semantics/openAccess
rights_invalid_str_mv Copyright (c) 2000 Economia Aplicada
http://creativecommons.org/licenses/by-nc/4.0
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Universidade de São Paulo, FEA-RP/USP
publisher.none.fl_str_mv Universidade de São Paulo, FEA-RP/USP
dc.source.none.fl_str_mv Economia Aplicada; Vol. 4 Núm. 4 (2000); 683-704
Economia Aplicada; Vol. 4 No. 4 (2000); 683-704
Economia Aplicada; v. 4 n. 4 (2000); 683-704
1980-5330
1413-8050
reponame:Economia Aplicada
instname:Universidade de São Paulo (USP)
instacron:USP
instname_str Universidade de São Paulo (USP)
instacron_str USP
institution USP
reponame_str Economia Aplicada
collection Economia Aplicada
repository.name.fl_str_mv Economia Aplicada - Universidade de São Paulo (USP)
repository.mail.fl_str_mv ||revecap@usp.br
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