Auer, Raphael A.; Borio, Claudio E. V.; Filardo, Andrew J. - 2017 - This version: 06.01.2017
sensitive to the global output gap. This can affect the trade-offs that central banks face when managing inflation. …Greater international economic interconnectedness over recent decades has been changing inflation dynamics. This paper …, is an important channel through which global economic slack influences domestic inflation. In particular, we document the …