Still Minding The Gap Inflation Dynamics During Episodes Of Persistent Large Output Gaps
Download Still Minding The Gap Inflation Dynamics During Episodes Of Persistent Large Output Gaps full books in PDF, epub, and Kindle. Read online free Still Minding The Gap Inflation Dynamics During Episodes Of Persistent Large Output Gaps ebook anywhere anytime directly on your device. Fast Download speed and no annoying ads. We cannot guarantee that every ebooks is available!
Still Minding the Gap—Inflation Dynamics during Episodes of Persistent Large Output Gaps
Author | : Mr.Andre Meier |
Publisher | : International Monetary Fund |
Total Pages | : 38 |
Release | : 2010-08-01 |
Genre | : Business & Economics |
ISBN | : 1455202231 |
Download Still Minding the Gap—Inflation Dynamics during Episodes of Persistent Large Output Gaps Book in PDF, Epub and Kindle
This paper studies inflation dynamics during 25 historical episodes in advanced economies where output remained well below potential for an extended period. We find that such episodes generally brought about significant disinflation, underpinned by weak labor markets, slowing wage growth, and, in many cases, falling oil prices. Indeed, inflation declined by about the same fraction of the initial inflation rate across episodes. That said, disinflation has tended to taper off at very low positive inflation rates, arguably reflecting downward nominal rigidities and well-anchored inflation expectations. Temporary inflation increases during episodes were, in turn, systematically related to currency depreciation or higher oil prices. Overall, the historical patterns suggest little upside inflation risk in advanced economies facing the prospect of persistent large output gaps.
Still Minding the Gap—Inflation Dynamics during Episodes of Persistent Large Output Gaps Related Books
Pages: 38
Pages: 12
Pages: 382
Pages: 107
Pages: 1386