Understanding the recent behavior of U.S. inflation
AbstractOne of the most surprising features of the long current expansion has been the decline in price inflation through the late 1990s. Some observers interpret the decline as evidence of a permanent change in the relationship between inflation and economic growth. But an analysis based on a standard forecasting model suggests that conventional economic factors_most notably, a decrease in import prices_can account for the low inflation rates in recent years.
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Bibliographic InfoArticle provided by Federal Reserve Bank of New York in its journal Current Issues in Economics and Finance.
Volume (Year): 6 (2000)
Issue (Month): Jul ()
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