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Is globalisation reducing the ability of central banks to control inflation?

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  • Grégory Claeys
  • Guntram B. Wolff

Abstract

Highlight After soaring in the 1970s, inflation in Organisation of Economic Cooperation and Development countries stabilised, coming down from 9 percent on average in the early 1980s to about 2 percent in the years before the crisis, and to a lower level in recent years. This trend coincided with the acceleration of globalisation, triggering a debate about whether global integration (of goods, labour and financial markets) could be one of...

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  • Grégory Claeys & Guntram B. Wolff, 2015. "Is globalisation reducing the ability of central banks to control inflation?," Policy Contributions 10843, Bruegel.
    • Handle: RePEc:bre:polcon:10843
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    Cited by:

    1. Singh, Vikkram & Roca, Eduardo & Li, Bin, 2021. "Effectiveness of policy interventions during financial crises in China and Russia: Lessons for the COVID-19 pandemic," Journal of Policy Modeling, Elsevier, vol. 43(2), pages 253-277.

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