The “Have No Fear” Inflation Update
May 29, 2009 · by Austin Frakt · Posted in Economics
This post originally appeared on The Finance Buff.
This is a quick update on recent arguments by economists that high inflation is not to be feared at this time.
- Paul Krugman’s NYT column today makes the case that current inflation fears are unwarranted.
- As I’ve already written, CBO is predicting little inflation.
- A list of reasons why high inflation is unlikely was given by Scott Sumner in a post earlier this month.
- Menzie Chinn’s analysis of real and nominal interest rates suggest low inflation expectations.
- I linked to additional details provided by James Hamilton, Susan Woodward, and Robert Hall in a prior post.
I’m sure one can find economists who have written that high inflation is inevitable. I tend not to run into those arguments as often as those referenced above. Feel free to post links in comments to this post to contrary opinions by economists.
Later: Here’s a Slate article by Danile Gross that includes descriptions of positions by economists that are contrary to Krugman’s position referenced above.
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