Skip to main content Accessibility help

We use cookies to distinguish you from other users and to provide you with a better experience on our websites. Close this message to accept cookies or find out how to manage your cookie settings.

Close cookie message
×
  1. Home
  2. Search

Refine search

Refine search

Access:
Content type:
Publication date:
Apply   From and To filters
Subject: Show more
Journals Show more
Publishers: Show more
Societies Show more
Series: Show more
Collections: Show more

Actions for selected content:

Select all | Deselect all
  • View selected items
  • Export citations
  • Download PDF (zip)
  • Save to Kindle
  • Save to Dropbox
  • Save to Google Drive

Save Search

You can save your searches here and later view and run them again in "My saved searches".

Please provide a title, maximum of 40 characters.
Cancel
×

1 results

  • 6 - Understanding US Inflation Dynamics

  • Jeremy B. Rudd
  • Book:
    A Practical Guide to Macroeconomics
    Published online:
    28 March 2024
    Print publication:
    04 April 2024, pp 146-192

  • Summary

    A simple empirical model describing how U.S. inflation dynamics have evolved over the post-WWII period is constructed; the results are used to evaluate various interpretations and theories of the inflation process. Changes in the slope of the price Phillips curve and the relative stability of the wage Phillips curve are documented. Macro and micro evidence for the empirical role of inflation expectations in the inflation process is critiqued. The chapter also discusses supply shocks and whether there was "missing disinflation" after the 2007-2009 recession. Finally, empirical measures of aggregate price-cost margins are compared.