Claeys, Grégory, Wolff, Guntram B., (2015), “Is globalisation reducing the ability of central banks to control inflation?”, Bruegel Publlications, Issue 18, 12 Νοεμβρίου.
After soaring in the 1970s and early 1980s, inflation has declined significantly in all advanced countries and is now at very low levels.This movement coincided with the acceleration of globalisation, triggering a recent debate on whether globalisation could be one of the main drivers of the disinflation process, and whether the ability of central banks to control inflation could be undermined as a result. The acceleration in globalisation has mainly taken three forms that could affect inflation dynamics and monetary policy: trade integration, labour market integration and financial integration.
Σχετικές Αναρτήσεις
- Blanchard, Olivier, Cerutti, Eugenio, Summers, Lawrence, (2015), “Inflation and Activity – Two Explorations and their Monetary Policy Implications”, IMF Working Paper, WP/15/230, Νοέμβριος.
- Eurostat/Flash estimate – October 2015/193/2015 – 30 October 2015