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

Andrea De Michelis, Grace Lofstrom, Mike McHenry, Musa Orak, Albert Queraltó and Mikaël Scaramucci
Additional contact information
Mike McHenry: https://www.federalreserve.gov/econres/mike-j-mchenry.htm
Albert Queraltó: https://www.federalreserve.gov/econres/albert-queralto.htm

No 2024-07-19-3, FEDS Notes from Board of Governors of the Federal Reserve System (U.S.)

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.

Date: 2024-07-19
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Persistent link: https://EconPapers.repec.org/RePEc:fip:fedgfn:2024-07-19-3

DOI: 10.17016/2380-7172.3562

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