Core Inflation and Trend Inflation
研究了能否通过使用分部门通胀数据构建类似核心通胀的指数来改进趋势通胀的测量，该指数权重随时间变化，取决于各部门通胀的波动性、持续性及部门间联动性。
This paper examines empirically whether the measurement of trend inflation can be improved by using disaggregated data on sectoral inflation to construct indexes akin to core inflation but with a time-varying distributed lags of weights, where the sectoral weight depends on the timevarying volatility and persistence of the sectoral inflation series and on the comovement among sectors. The modeling framework is a dynamic factor model with time-varying coefficients and stochastic volatility as in Del Negro and Otrok (2008), and is estimated using U.S. data on seventeen components of the personal consumption expenditure inflation index.