In fact, behavioral factors may also be to blame for our limited capacity to anticipate the return of inflation. Research based on adaptive learning models suggests that personal experiences have an important influence on the formation of inflation expectations, including the individual forecasts of policy-makers.4 According to these  For example, c.f.
Overall, assuming that overseas economies will recover in 2003, albeit only at a moderate pace, the increase in exports will accelerate and the uptrend in production will resume sooner or later, which in turn will initiate the momentum for a recovery.