by Makoto Kasai and Łukasz Rawdanowicz, OECD Economics Department As discussed in the latest OECD Economic Outlook, the prolonged undershooting of inflation targets, despite massive monetary policy stimulus and stronger economic growth and lower unemployment, raises issues about the appropriateness of current inflation targeting frameworks in advanced economies. While the frameworks differ in detail and implementation, they … More Could current inflation targeting frameworks be improved?
By Dan Andrews, Peter Gal and William Witheridge, Economics Department Markets and commentators are speculating that there may be a sustained pick-up in inflation in the United States, after years of subdued price pressures. Along with continued solid US jobs growth and low unemployment, there are tentative signs of higher wage growth and the fiscal … More Will the inflation genie escape the bottle? New evidence on globalisation, competition and inflation