It appears that households and businesses reduced their expectations of inflation and scaled back their expectation of rising asset values only after inflation was reduced.From the January/February 1993 issue of the Federal Reserve Bank of St. Louis Review: On the Macroeconomics of Private Debt (PDF, 14 pages) by Keith M. Carlson.
Wednesday, May 8, 2019
And yet, economists say inflation is driven by expectations
Subscribe to:
Post Comments (Atom)
-
I've been hearing the phrase "late capitalism" for so long that I'm forced to conclude that the very concept of late cap...
-
It is surely true that the price level cannot rise without a corresponding increase in the quantity of money or velocity or use of credit. ...
-
As I write this it is mid-October in an even-numbered year. Elections are weeks away. Yesterday, I saw Republican candidates heavily adver...
-
Went to Harbor Freight the other day. When I left, there was so much traffic I had to fight my way out of the parking lot -- at one p.m. on ... -
I'm not a fan of "diagrams" in economics, but sometimes... This is a screen capture of slide 36 from a SlideShare presentatio...
No comments:
Post a Comment