Output gaps are significant cause of inflation – BIS paper
Researchers find evidence of flatter Phillips curve in advanced economies
Global and domestic output gaps are significant drivers of inflation, a research paper published by the Bank for International Settlements finds.
In Domestic and global output gaps as inflation drivers: what does the Phillips curve tell? Martina Jašová, Richhild Moessner and Előd Takáts collect data from 26 advanced and 22 emerging economies from 1994 to 2017. They analyse the quarterly rates of consumer price indices (CPI) against changes in global and output gap.
Overall the researchers
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