Arbeitspapier
Should Inflation Measures Used by Central Banks Incorporate House Prices? The Czech Approach
In this paper we describe the Czech National Bank's approach to incorporating macroprudential considerations into monetary policy decision making: the use of a broader inflation measure that gives substantial weight to house prices and is considered along with headline CPI inflation. We argue that, in terms of theory, the broader inflation gauge is at least as suitable for measuring the value of money as headline CPI inflation is, but we also acknowledge practical problems that arise from the use of the broader index.
- Sprache
-
Englisch
- Erschienen in
-
Series: IES Working Paper ; No. 12/2017
- Klassifikation
-
Wirtschaft
Price Level; Inflation; Deflation
Financial Markets and the Macroeconomy
Monetary Policy, Central Banking, and the Supply of Money and Credit: General
Real Estate Markets, Spatial Production Analysis, and Firm Location: General
- Thema
-
consumer price index
financial stability
house prices
macroprudential policy
monetary policy
owner-occupied housing
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Hampl, Mojmir
Havranek, Tomas
- Ereignis
-
Veröffentlichung
- (wer)
-
Charles University in Prague, Institute of Economic Studies (IES)
- (wo)
-
Prague
- (wann)
-
2017
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:43 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
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ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Hampl, Mojmir
- Havranek, Tomas
- Charles University in Prague, Institute of Economic Studies (IES)
Entstanden
- 2017
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