8 Figure 5 shows regression estimates of B and C, computed over 20-year samples starting with the sample from 1965 to 1984 and including each 20-year sample through 2017. During the Great Inflation samples, the value of C is near 1, meaning that higher inflation one year tended to translate almost one-for-one into higher inflation the next.
I am convinced this is perfectly possible. We designed our monetary union ourselves, including its flaws. And that means we can also fix it ourselves, if we want to. Policy for Europe There are three things I believe we need to do for that to happen. The first is to fight this Covid-19 crisis collectively and effectively.