The Resource What Drives Inflation in the Major OECD Economies?, Diego Moccero, Shingo Watanabe and Boris Cournède, (electronic resource)

What Drives Inflation in the Major OECD Economies?, Diego Moccero, Shingo Watanabe and Boris Cournède, (electronic resource)

Label
What Drives Inflation in the Major OECD Economies?
Title
What Drives Inflation in the Major OECD Economies?
Statement of responsibility
Diego Moccero, Shingo Watanabe and Boris Cournède
Creator
Contributor
Subject
Language
eng
Summary
This paper presents an empirical analysis of the determinants of inflation in the United States, Japan, the euro area and the United Kingdom, focusing on the role of resource utilisation, inflation expectations, inflation persistence and imported inflation. It also includes a cross-sectional analysis that focuses on inflation dynamics over episodes of persistent large slack and low inflation. The main findings of this analysis are as follows: i) During the crisis, the stability of inflation expectations has held up actual inflation, so far preventing the huge slack in resource utilisation from leading to a disinflationary spiral; ii) Disinflationary pressures also seem to have been moderated by the flattening of the Phillips curve in an environment of persistent large economic slack and low inflation; iii) The link between long-term inflation expectations and past inflation outcomes has become weaker over time and appears to have almost disappeared recently; iv) The estimated Phillips curves coupled with the November 2010 projection of explanatory variables presented in the OECD Economic Outlook No. 88 and excluding the recent period of strong commodity prices point to inflation remaining low but positive, except in Japan where deflation is expected to continue past end-2012; v) The inflation outlook and associated risks argue for withdrawing monetary policy accommodation gradually in the short term, while being vigilant about the build up of broad-based inflationary pressures over the medium term
Member of
Cataloging source
FR-PaOEC
http://library.link/vocab/creatorName
Moccero, Diego
Government publication
international or intergovernmental publication
Index
no index present
Literary form
non fiction
Nature of contents
dictionaries
http://library.link/vocab/relatedWorkOrContributorName
  • Watanabe, Shingo
  • Cournede, Boris
Series statement
OECD Economics Department Working Papers,
Series volume
no.854
http://library.link/vocab/subjectName
Economics
Label
What Drives Inflation in the Major OECD Economies?, Diego Moccero, Shingo Watanabe and Boris Cournède, (electronic resource)
Instantiates
Publication
Antecedent source
not applicable
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Control code
762089118
Dimensions
21 x 30 cm
Extent
1 online resource 83 pages
File format
one file format
Form of item
online
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Other control number
10.1787/5kgdx1jgvtf8-en
Specific material designation
remote
System control number
(OCoLC)762089118
Label
What Drives Inflation in the Major OECD Economies?, Diego Moccero, Shingo Watanabe and Boris Cournède, (electronic resource)
Publication
Antecedent source
not applicable
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent
Control code
762089118
Dimensions
21 x 30 cm
Extent
1 online resource 83 pages
File format
one file format
Form of item
online
Media category
computer
Media MARC source
rdamedia
Media type code
  • c
Other control number
10.1787/5kgdx1jgvtf8-en
Specific material designation
remote
System control number
(OCoLC)762089118

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