105 – David Andolfatto on Inflation and the Phillips Curve
Macro Musings with David Beckworth
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Unraveling the Mystery of Low Inflation Rates
The chapter delves into the ongoing puzzle of low inflation rates despite low unemployment, challenging traditional Phillips curve predictions. Various theories and explanations, such as minimal price reductions and declining labor bargaining power, are explored. The discussion expands on the relationship between money supply, demand dynamics, and global events, highlighting the complexities and uncertainties in predicting future inflation trends.
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