Report
Geneva Reports on the World Economy
Geneva 19 - And Yet It Moves: Inflation and the Great Recession
- The inflation puzzle after the Great Recession
- The volatile history of inflation
- The challenge in 2010
- Four major strands of thinking on inflation
- Conclusion: The puzzling stability of inflation
- Digging deeper: Facts about inflation
- Measurement
- The persistence of inflation
- Revisiting the Phillips curve
- The central role of expectations
- The central bank balance sheet
- Policies and inflation expectations
- Refining theory and evidence on inflation
- Pure and persistent inflation: Commodity prices and global factors
- The Phillips curve: Marginal costs and mark-ups
- Interest rates: Fisherianism and inattention
- Quantitative easing: From monetarism to reservism
- Central banks as fiscal agents
- A preliminary assessment
- Good luck or good policies?
- Monetary policy and slack
- Monetary policy and the symmetry of the inflation target
- Monetary policy and hysteresis
- Monetary policy and financial stability
- Monetary policy and central bank independence
- Summing up: Good policies, or good luck?
- Inflation and the policy framework: The future
- Would a higher inflation target be warranted?
- Should central banks have large balance sheets?
- What is the role of forward guidance?
- Has monetary policy been too focused on inflation?
- What is the role of fiscal policy in managing inflation?
- Final thoughts
- Discussions: The Geneva Report: Principles and facts
- Discussions: The Geneva Report: Policies