Riksbank paper investigates sectoral inflation
In an August Riksbank working paper titled Stylized (Arte)Facts on Sectoral Inflation, authors Ferre De Graeve and Karl Walentin argue research on disaggregate price indices is flawed.
Past investigation on the topic has found that sectoral shocks generate the bulk of sectoral inflation variance, but no persistence. Aggregate shocks, by contrast, have been found to be the root of sectoral inflation persistence, but have negligible relative variance.
De Graeve and Walentin argue that these
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