Recently, I have complained about Simon Wren-Lewis, the IMF research staff and commentary on an IMF staff paper. Not to close a rhetorical loop, but just because it's what I believe, I am pleased to write that I think that
Simon Wren-Lewis's comment on the IMF staff report is perfect
"the recent IMF study I discuss here shows, either low inflation or credible inflation targets (or both) seem to have weakened the impact of the output gap on inflation, "
(also somewhat briefer than my series of posts and comments on other blogs).
