![]() Despite widespread "inflation pessimism," however, during the 1980s and 1990s most industrial-country central banks were able to cage, if not entirely tame, the inflation dragon. Economists of various stripes have argued that inflation is the inevitable result of (pick your favorite) the abandonment of metallic monetary standards, a lack of fiscal discipline, shocks to the price of oil and other commodities, struggles over the distribution of income, excessive money creation, self-confirming inflation expectations, an "inflation bias" in the policies of central banks, and still others. ![]() Since World War II, inflation-the apparently inexorable rise in the prices of goods and services-has been the bane of central bankers. Speech, Bernanke -Deflation- November 21, 2002īefore the National Economists Club, Washington, D.C.ĭeflation: Making Sure "It" Doesn't Happen Here
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |