Sommer, Martin (contributor) - 2002 - [Elektronische Ressource]
¤erence between the two periods is attributable to the change in the be-
havior of in‡ation expectations. Agents expected shocks to … and nineties
eliminated the persistence of shocks.
Keywords: in‡ation, supply shocks, in‡ation expectations, persis-
tence …‡ation expectations.
In‡ation remains high until the FED tightens policy and drives the economy
into a recession (Ball, 1991). The other …