Mishkin, Frederic S. - Federal Reserve Board (Board of Governors of the … - 2007
the performance of
monetary policy. By the end of the 1970s, inflation had risen to very high levels, with many …
countries in the Organisation for Economic Co-operation and Development (OECD)
experiencing double-digit inflation rates … (figure 1). Most OECD countries today have inflation
rates around the 2 percent level, which is consistent with what most …