Bolt, W.; Rooij, M.C.J. van; Tieman, A.F. - de Nederlandsche Bank - 2001
This report reviews Thomas J. Sargents essay 'The Conquest of American Inflation' (1999). Sargent searches for a model … which can explain postwar US inflation and which may shed light on the dynamic forces which drive this pattern. Following … Sargent, the conquest of US inflation is due to a subtle dynamic interaction of adaptive expectations, imperfect model …