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