Jason Furman on the Future of the World Economy
The Good Fight
The Origins of Inflation
For the last year, we were saying that inflation is about 5% nominal inflation. Some of these years were significantly higher than that. What caused that? Is that just the weirdness of a pandemic and coming out of aPandemic? Therefore, it's a temporary thing or other more fundamental factors that have driven inflation up. There are two broad views on that question: One is what I'd call the series of unfortunate accidents model; the other is the original sin model.
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