To minimize the potential for recall and artificial inflation of observed agreement, all data abstracted during Time 1 (initial chart abstraction) were returned to the research centre upon their completion, and chart abstractors were not granted access to their original responses at Time 2 (chart re-abstraction).
Meanwhile, this has not fueled broader measures of money and credit: M2 is up just 6.5% in the last year, slightly faster than last year but still well below rates of growth recorded in 2011 and 2012 (which, you'll recall, did not signal an inflation breakout).
Recall the worst episode of inflation in U.S. economic history, that of the 1970s and early 1980s.
Study 2 asked participants to report their year-ahead expectations of inflation, without first prompting them to recall specific price changes.
The greater reliability observed for the Spanish version than for the original questionnaire may be attributable to the shorter interval between tests (48 h) which could induce an artificial inflation of correlation coefficients due to recall bias.
It was barely two months ago, he recalled, that the Fed's main concern was inflation.
In a different post, Brad recalls what John Cochrane was saying 40 months ago: inflation! fiscal crisis because nobody will buy our bonds!
Inflation ratios were better for prior-24-hour recalls in the afternoon than prior-24-hour recalls in the morning and previous-day recalls in the afternoon and evening; and for prior-24-hour recalls in the evening than previous-day recalls in the evening (four p-values <0.0002).
Martin Feldstein, a colleague at Harvard, recalls him being absorbed by the harmful effects of inflation.
Recall Mr Blanchard's point:The danger of a low inflation rate was thought, however, to be small.
