01703cas a2200241 a 4500 AALejournalIMF001180 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451847857 1018-5941 BD-DhAAL BD-DhAAL Roger, Scott. Relative Prices, Inflation and Core Inflation / Scott Roger. Washington, D.C. : International Monetary Fund, 2000. 1 online resource (43 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students Empirical evidence on the distribution of relative price changes almost invariably reveals high kurtosis and a tendency toward right-skewness. Simple mixed distribution models including volatile and infrequently adjusted prices can account for these and other common features, such as correlation between the mean and variance of relative prices. In such circumstances, robust measures of central tendency are likely to outperform the mean or standard measures of 'core' inflation as indicators of generalized inflation. The analysis also supports the use of geometric averaging in CPI construction and the targeting of the geometric mean inflation rate rather than the Laspeyres mean. Mode of access: Internet IMF Working Papers; Working Paper ; No. 2000/058 Full text available on IMF http://elibrary.imf.org/view/journals/001/2000/058/001.2000.issue-058-en.xml IMF e-Library