## Annex Figure 2.1.2. Impulse Responses in Low-for-Long Economies (Percentage points)

## Source details

**Canonical URL:** [Annex Figure 2.1.2. Impulse Responses in Low-for-Long Economies (Percentage points)](https://www.imf.org/-/media/files/publications/gfsr/2017/april/annexfigure2-1-2.pdf)

## Other formats

- [Markdown version](/-/media/files/publications/gfsr/2017/april/annexfigure2-1-2.pdf.md)
- [Structured JSON version](/-/media/files/publications/gfsr/2017/april/annexfigure2-1-2.pdf.json)

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### Inflation
- Axis tick values shown: 0.0, 0.1, 0.2, 0.3, 0.4, 0.5, 0.6, 0.7
- Quarters axis labels: 1 2 3 4 5 6 7 8 9 10 11 12 (displayed as "123456789101112")
- Caption text: "Under persistent inflation shocks ..."
- Source note: "Source: IMF staff calculations."
- Chart bottom axis label: "Quarters"

### Real Interest Rate
- Axis tick values shown: –0.6, –0.5, –0.4, –0.3, –0.2, –0.1, 0.0
- Quarters axis labels: 1 2 3 4 5 6 7 8 9 10 11 12 (displayed as "123456789   101112")
- Subheading label: "2. Real Interest Rate"

### Real Income Growth
- Axis tick values shown: –0.07, –0.06, –0.05, –0.04, –0.03, –0.02, –0.01, 0.00
- Quarters axis labels: 1 2 3 4 5 6 7 8 9 10 11 12 (displayed as "123456789   101112")
- Text annotations: "... real rates remain lower ..." and "... as do real incomes."
- Subheading label: "3. Real Income Growth"

### Figure-level summary points
- Figure title: "Annex Figure 2.1.2. Impulse Responses in Low-for-Long Economies"
- Units: "(Percentage points)"
- Panels presented: 1. Inflation; 2. Real Interest Rate; 3. Real Income Growth
- Time horizon: Quarters 1 through 12 (displayed as "123456789101112" / "123456789   101112")

*Source: IMF staff calculations.*

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_Source: https://www.imf.org/-/media/files/publications/gfsr/2017/april/annexfigure2-1-2.pdf_