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Discussion Paper

Has the Inflation Process Become More Persistent? Evidence from the Major Advanced Economies


Abstract: The sustained surge in inflation around the world following the pandemic has raised the possibility that the inflation process has become more persistent. Such a rise in persistence could result from firms and households putting greater weight on past inflation outcomes in their price- and wage-setting decisions than they did in the recent past, say, because they have less conviction that inflation will return promptly to target.

https://doi.org/10.17016/2380-7172.3562

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Bibliographic Information

Provider: Board of Governors of the Federal Reserve System (U.S.)

Part of Series: FEDS Notes

Publication Date: 2024-07-19

Number: 2024-07-19-3