Inflation Persistence , the NAIRU , and the Great Recession

  title={Inflation Persistence , the NAIRU , and the Great Recession},
  author={Mark W. Watson}
Table 1 contrasts the change in inflation and unemployment during the 2007-09 recession and its aftermath with the corresponding changes during and following the double-dip recessions of 1980-82. Notes: Inflation is reported percentage points at an annual rate and the unemployment rate is reported in percentage points. In the six years following the start of the 1980-82 recessions inflation fell 4.6 percent (from 8.1% to 3.5%), while in the six years following the start of the 2007-09 inflation… CONTINUE READING


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