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Published on Tuesday, October 25, 2016 | Updated on Wednesday, October 26, 2016

Comments to Global disinflation in an era of constrained monetary policy

Inflation has declined substantially in a large number of countries as a result of persistent labor market slack and weaker import price growth (cross-border spillovers). Phillips curve residuals have tended to become larger: a sign that price setters’ inflation expectations have declined more than survey-based measures?