Instability in U.S. inflation: 1967-2005. From: Economic Review (Atlanta, Ga.) | Date: April 1, 2006| Author: Nason, James M. | COPYRIGHT 2006 Federal Reserve Bank of Atlanta. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group.Copyright information

Maintaining stables prices and keeping inflation in check have become key policy objectives of the Federal Reserve and other central banks. Evidence indicates that inflation has become less persistent and volatile since the early 1980s. Although economists have examined the implications for inflation modeling and forecasting, little information exists about whether changes or instabilities in inflation dynamics coincide with specific economic events such as oil price shocks or rece...

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