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Contribution Details
| Type | Master's Thesis |
| Scope | Discipline-based scholarship |
| Title | Inflation and its measurement |
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| Institution | University of Zurich |
| Faculty | Faculty of Business, Economics and Informatics |
| Number of Pages | 72 |
| Date | 2018 |
| Abstract Text | Inflation measures used in monetary policy are based solely on prices of current consumption goods. Movements in asset prices are not covered by conventional price indices. This paper is concerned with the measurement of inflation and the question whether the inclusion of house prices improve inflation measures used in monetary policy. I computed an expanded version of existing inflation measures that incorporates house prices for five currency areas. The results show that the inclusion of house prices potentially conveys information regarding the future trend of inflation and adds a macro-prudential dimension to the primary target variable of monetary policy. |
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