Summarizing Sargent's "The Conquest of American Inflation," this essay compares the popular rational-expectations "triumph of natural-rate theory" account of the rise and fall of U.S. inflation …
PublishedClassicSveriges Riksbank Economic ReviewPublished Nov 2000
Introducing Thomas Sargent's monograph "The Conquest of American Inflation" to a central-bank audience, this short essay contrasts the two standard accounts of the postwar rise and fall of inflation …