IMF paper dissects 'remarkably stable’ US inflation

IMF headquarters in Washington DC

A working paper, published by the International Monetary Fund last week, has attempted to give reasons for the low inflation the US has enjoyed since the ‘Great Recession'.

In The Great Recession and the Inflation Puzzle, authors Troy Matheson and Emil Stavrev use a model based on a traditional Phillips curve, with the parameters allowed to vary over time to capture changing inflation dynamics. They attribute the "remarkably stable" inflation to three factors: better anchored inflation

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