The future of inflation
Goodhart, C. A. E.
(2022).
The future of inflation.
In
ECB Forum on Central Banking. Beyond the pandemic: the future of monetary policy
(pp. 99 - 103).
European Central Bank.
We no longer have a generally accepted theory of inflation. This vacuum has been partially filled by reliance on inflationary expectations, but this is a weak reed. Instead, my view is that the main determinants of the structural trend in inflation has been the longer-term shifts in the availability of labour.
| Item Type | Chapter |
|---|---|
| Copyright holders | © 2022 European Central Bank |
| Departments | LSE > Research Centres > Financial Markets Group |
| Date Deposited | 30 Jun 2022 |
| URI | https://researchonline.lse.ac.uk/id/eprint/115464 |