Tetlow, Robert J.; von zur Muehlen, Peter - 2002
In his 1999 monograph The Conquest of American Inflation Tom Sargent describes how a policymaker, who applies a … basis of reduced-form evidence that the trade-off between inflation and output is more favorable than it actually is. This … mechanically to alleviate the induction problem. A corollary of this finding is that Sargent's story for the inflation of the 1970s …
