The origins and implications of the low inflation dynamics that characterised the post-crisis
recoveries in many advanced economies were at the heart of the EC B's 2018 Sintra Forum …

Wage and price setting in advanced economies is well documented in the literature, but little
work has been done on this topic for the emerging market economies. The aim of this paper …

To assess whether central banks reacted appropriately to post-COVID inflation and are
drawing the right lessons for the future–the focus of this volume–one needs to understand …

Since early 2021, consumer price inflation has risen sharply across the advanced
economies, including the US, the euro area and Denmark. We argue that the surge in …

Headline inflation is at multi-decade highs in most advanced economies, reflecting a
confluence of factors. Wages growth has also increased, but not to the same extent. This …

Using newly assembled data for 18 advanced economies between 1870 and 2019, I study
how monetary policy affects wage inflation and unemployment and document two key …

This paper investigates the drivers of inflation in 34 Organization for Economic Cooperation
and Development countries from the first quarter of 2020 to the fourth quarter of 2022. Using …

Much of the inflation increase in 2021 and 2022 was due to sectoral shocks on which
monetary policy has close to no traction. What monetary policy can do, or fail to do, is to …

What is the role of wage growth in excess of 6 per cent? This chapter establishes that there
is a strong feedback link between inflation outcomes, inflation expectations and excess …

After more than a decade of struggling to bring inflation up to target, central banks now face
the opposite problem. The shift in the inflationary environment has been remarkable. If you …