Inflation dynamics in advanced countries have produced two consecutive puzzles during the years after the global … financial crisis. The first puzzle emerged when inflation rates over the period 2009-11 were consistently higher than expected … today - was initially observed in 2012, when inflation rates in advanced countries were weakening rapidly despite the …

global inflation. The process of globalization has motivated much debate over whether global factors have become more … important in driving the inflation process. Since commodity prices respond to global demand and supply conditions, they are a … potential channel through which foreign shocks could influence domestic inflation. The author assesses whether commodity prices …

. The authors fill in the gaps by constructing a 50-year monthly history of expected inflation at all horizons from one … month to 10 years that is consistent with inflation data and infrequent survey data. In the process, some models that fit … inflation well are found to generate forecasts that bear little resemblance to survey data. Also, survey data on near …