An alternative interpretation of the recent U.S. inflation performance

Mikael Apel, Per Jansson (Economics Department, Sveriges Riksbank, Stockholm, Sweden)

An approach to decomposing and interpreting the inflation process is proposed. It suggests that the low U.S. inflation rate in recent years reflects a structural development, but that the low levels of unemployment may be a mainly cyclical phenomenon.

Year of publication:	April 17, 2000
Authors:	Apel, Mikael ; Jansson, Per
Publisher:	Stockholm : Sveriges Riksbank [Stockholm] : [Sveriges Riksbank]
Subject:	Inflation \| NAIRU \| New economy \| Phillips curve \| Unobserved-components models \| Phillips-Kurve \| USA \| United States \| Natürliche Arbeitslosenquote \| Natural rate of unemployment \| New Economy

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