Inflation Dynamics and the Great Recession

Inflation Dynamics and the Great Recession
This paper examines inflation dynamics in the United States since 1960, with a particular focus on the Great Recession. A puzzle emerges when Phillips curves estimated over 1960-2007 are ussed to predice inflation over 2008-2010: inflation should have fallen by more than it did. We resolve this puzzle with two modifications of the Phillips... READ MORE...

Publication date: June 2011
ISBN 9781455263387
$18.00

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