CLARK, TODD E.; TERRY, STEPHEN J. - In: Journal of Money, Credit and Banking 42 (2010) 7, pp. 1419-1433
obtain the following three results. First, beginning in approximately 1975, the responsiveness of core inflation to changes … inflation to core prices has been sustained through a recent period of markedly higher volatility of shocks to energy inflation …. Finally, reduced energy inflation passthrough has persisted in the face of monetary policy that became less responsive to …