type="main" xml:lang="en" <title type="main">SUMMARY</title> </section> <title type="main">Deflations</title> <p> Inflation is currently low and stable in industrialized countries, but might deflation replace inflation as a major policy concern? We present a broad cross-country historical study of deflation over the past two centuries in order to shed light on...</p>

On 18-19 June 2004, the BIS held a conference on "Understanding Low Inflation and Deflation". This event brought together central bankers, academics and market practitioners to exchange views on this issue (see the conference programme in this document). This paper was presented at the workshop....

Greater international economic interconnectedness over recent decades has been changing inflation dynamics. This paper presents evidence that the expansion of global value chains (GVCs), ie cross-border trade in intermediate goods and services, is an important channel through which global...