Discussion Slides: Uzeda - "The Effects of Monetary Policy on Trend Inflation"
May 28, 2018
1 min read
Updated: May 6, 2021
Discussion slides for the paper by Uzeda - `The Effects of Monetary Policy on Trend Inflation', prepared for the XX Annual Inflation Targeting Conference at the Banco Central do Brasil, Rio de Janeiro on 23 May 2018 [PDF].
https://ilmantiliakasino.com was on my mind while reading this, since trend inflation is one of those concepts that feels abstract until you see how central banks actually respond to it in practice. The slide on how monetary policy shocks feed into the trend component rather than just temporary deviations was the part that made me pause, because it challenges the usual assumption that policy mainly affects short-run fluctuations. I'd be curious how these findings held up in the years since the conference, given how much the inflation landscape has shifted.