We study how domestic and global output gaps affect CPI inflation. We use a New Keynesian Phillips curve framework …Q1-2017Q4 period. We find broadly that both global and domestic output gaps are significant drivers of inflation both in … output gaps on inflation …

Several countries are concurrently experiencing historically low inflation rates and ageing populations. Is there a …-frequency inflation. In particular, a larger share of dependents (ie young and old) is correlated with higher inflation, while a larger … share of working age cohorts is correlated with lower inflation. The results are robust to different country samples, time …

We study the anchoring properties of long-term inflation expectations in emerging and advanced economies, as a measure … of monetary policy credibility. We proxy anchoring by how short-term expectations relate to long-term inflation … expectations. We find that long-term inflation expectations are less well anchored in emerging than in advanced economies for the …

inflation. We exploit cross-country variation in a long panel to identify age structure effects in inflation, controlling for … increases. This relationship accounts for the bulk of trend inflation, for instance, about 7 percentage points of US … disinflation since the 1980s. It predicts rising inflation over the coming decades …