Journal Article

On recognizing inflation


Abstract: 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.

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Bibliographic Information

Provider: Federal Reserve Bank of Richmond

Part of Series: Economic Review

Publication Date: 1988

Volume: 74

Issue: Jul

Pages: 4-12