IMF authors dismiss global Phillips curve as euro inflation driver

Eurozone inflation seems to be particularly persistent

Fiercer global competition appears to be a promising explanation for recent low inflation in advanced economies, but it is not to blame in the eurozone, according to recent analysis published by the International Monetary Fund.

The global Phillips curve implies labourers compete not only with their domestic counterparts for jobs but also with those overseas, such that both domestic slack and global capacity matter in the setting of wages and prices.

Authors Yasser Abdih, Li Lin and Anne

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here:

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: