Clark, Todd E.; Nakata, Taisuke - In: Economic Review (2008) Q I, pp. 17-50
From 1975 to 1980, inflation in core (nonfood and nonenergy) consumer prices rose sharply as crude oil prices more than tripled. Yet, as crude oil prices quadrupled from late 2001 to 2007, core consumer price inflation remained essentially flat. Some observers have attributed the stability of...