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Life After Brown
Anyone Afraid Of Inflation?
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<blockquote data-quote="Over70irregs" data-source="post: 5865772" data-attributes="member: 59424"><p><em>Pre-1983, mortgage costs were in the CPI as were car payments pre-1998. Now, price indexes do not include borrowing costs. Thus, when interest rates jumped last year, official inflation did not fully capture the effects it would have on consumer well-being…</em></p><p><em></em></p><p><em>We show that if we make an effort to reconstruct the CPI of Okun’s era—which would have had inflation peak last year around 18%, we are able to explain 70% of the gap in consumer sentiment we saw last year.” </em></p></blockquote><p></p>
[QUOTE="Over70irregs, post: 5865772, member: 59424"] [I]Pre-1983, mortgage costs were in the CPI as were car payments pre-1998. Now, price indexes do not include borrowing costs. Thus, when interest rates jumped last year, official inflation did not fully capture the effects it would have on consumer well-being… We show that if we make an effort to reconstruct the CPI of Okun’s era—which would have had inflation peak last year around 18%, we are able to explain 70% of the gap in consumer sentiment we saw last year.” [/I] [/QUOTE]
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Anyone Afraid Of Inflation?
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