This article examines whether short-run inflation expectations and indicators of long-term credibility have been affected by the great recession and by the policies to counter it. Measures of short-run expectations dropped in the crisis, particularly in advanced economies, but have since...

The global output gap seems to be negative but closing. According to structural estimates, the gap is still wide, particularly in the advanced economies. However, these measures may overestimate potential output, eg by not accounting for the fact that certain investments may have turned out to...

How much does the banking sector depend on public support? Utilisation of many support facilities has declined, due mainly to a fall in demand. Supply factors play a smaller, but not insignificant role, as governments and central banks have tightened the conditions on which certain support...