Estimating core inflation : the role of oil price shocks and imported inflation

Research, Preprint English OPEN
Bjørnland, Hilde Christiane;
(1997)
  • Publisher: Statistics Norway, Research Department
  • Subject: JEL classification: E31 | Prisvekst | E31 | C32 | inflation target | oil price shocks | Structural vector | Inflation | Imported inflation | JEL classification: C32 | Oil price | E61 | long-run neutrality | United Kingdom | Core inflation | Core inflation; inflation target; long-run neutrality; oil price shocks; imported inflation; structural VAR. | structural VAR. | Inflasjon | JEL classification: E61 | Oljepriser | Norway
    • jel: jel:E61 | jel:E31 | jel:C32
      ddc: ddc:330

This paper calculates core inflation, by imposing long run restrictions on a structural vector autoregression (VAR) model containing the growth rate of output, inflation and oil prices. Core inflation is identified as that component in inflation that has no long r... View more
  • References (1)

    I. Svendsen (1995): Forward- and Backward Looking Models for Norwegian Export Prices R. Barrell and K. A. Magnussen (1996): Counterfactual Analyses of Oil price Shocks using a World Model E. Bowitz and S. I. Hove (1996): Business cycles and fiscal policy: Norway 1973-93 E. Berg, S. Kverndokk and K.E. Rosendahl (1996): Gains from Cartelisation in the Oil Market B. Bye (1996): Taxation, Unemployment and Growth: Dynamic Welfare Effects of "Green" Policies E. Bowitz and Å. Cappelen (1997): Incomes Policies and the Norwegian Economy 1973-93 S. Glomsrød, M.D Monge A. and H. Vennemo (1997): Structural Adjustment and Deforestation in Nicaragua

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