How did past major pandemics affect inflation dynamics? This column estimates the long-run effects of pandemics on trend inflation in Europe using historical data since the 14th century. We find that, following a pandemic event, trend inflation falls steadily below its initial level for nearly a decade. This long-run depressing...
Full ArticleThe Long-Run Effects Of Pandemics On Inflation: Why This Time May Be Different – Analysis
Eurasia Review
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