
S5 Ep49: How did inflation get so high?
VoxTalks Economics
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The Role of Expectations and Credibility in High Inflation
Exploring the role of expectations and credibility in driving high inflation rates, this chapter explains how temporary shocks can have long-lasting impacts on inflation through their effects on expectations. The speaker also discusses the Phillips curve and how a lack of credibility can lead to an unfavorable relationship between inflation and unemployment.
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