The Volcker recession of 1981-82 crushed inflation out of the economy, and presented economists with a new challenge: rather than high and rising inflation, their new dilemma was low and falling inflation.Building a New Economics is a reader-supported publication.
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This Ain’t Your Daddy’s Inflation Part Three
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The Volcker recession of 1981-82 crushed inflation out of the economy, and presented economists with a new challenge: rather than high and rising inflation, their new dilemma was low and falling inflation.Building a New Economics is a reader-supported publication.