This paper assesses the OECD’s projections for GDP growth and inflation during the global financial crisis and recovery … the slowdown and later the weak pace of the recovery – errors made by many other forecasters. At the same time, inflation …

A statistically significant relationship between the unemployment gap and inflation can be found for a clear majority … slack on inflation can often be dominated by other shocks, including imported inflation. The current Secretariat Phillips … curve specification assumes inflation expectations are anchored at the central bank’s target, although some experimentation …

Declining inflation in many countries over the past few decades at the same time as rising global competition has led … to a debate on the importance of globalisation for domestic inflation. This paper explores the implications of global … value chain (GVC) integration and market contestability for inflation using a range of industry-level and micro-data sources …