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|Title:||A core inflation measure for Greece||Authors:||Φουτσιτζή, Γεωργία||Keywords:||Πληθωρισμός -- Ελλάδα;Inflation (Finance) -- Greece||Issue Date:||2005||Publisher:||ΤΕΙ Ηπείρου. Σχολή Διοίκησης και Οικονομίας||Journal:||Επιθεώρηση Οικονομικών Επιστημών;Τεύχ. 8||Abstract:||The main goal of monetary policymakers is to preserve the price leνel constant and consequently maintain the low rate of inflation. This is the case for Central Bank of Greece (CBG). Neνertheless, monetary authorities are not concern with eνery fluctuation in prices. Rather, they focus on the underlying trend, the so-called "core inflation". The "core inflation" proνides policy makers with useful information, since it can be a good indicator of current and future trend in inflation, a good measure of inflation for empirical work or a νiable target for monetary policy. In this work, a "core" inflation measure is estimated for Greece using a common trends model. Such a measure embodies long-run economic restrictions strongly supported by the data and bears the interpretation of a long-run forecast, affected only by permanent disturbances to the inflation rate.||URI:||http://cris.teiep.gr/jspui/handle/123456789/1145||ISSN:||1109-2629|
|Appears in Collections:||Επιθεώρηση Οικονομικών Επιστημών|
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