Economic Review

Jul/Aug, 1988

On Recognizing Inflation

William E. Cullison

Forecasters experienced considerable difficulty in recognizing rising inflation and predicting its intensity in 1972-82. Possible explanations discussed are: 1) unpredictable supply shocks, 2) excessive attention to nonmonetary developments, and 3) actual money growth overshooting its targeted growth rate.



Our Research Focus: Inflation and Monetary Policy

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