A Major Shock Makes Prices More Flexible and May Result in a Burst of Inflation or Deflation

Explores how major shocks change price adjustment and can trigger inflation or deflation spikes.

expertadjustment dynamicsdeflation riskdemand supply imbalanceexpectationsinflation burstmacro shocksRobert HallJohn TaylorAnnelise AndersonMichael Boskin

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• Hoover Institution · 2023-04-07

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