arbiter
JournalsAccount

Changing Central Bank Pressures and Inflation

Hassan Afrouzi et al.

Brookings Papers on Economic Activity2024https://doi.org/10.1353/eca.2024.a943916article
AJG 3ABDC A
Weight
0.51

Abstract

ABSTRACT: We introduce a simple long-run aggregate demand and supply framework for evaluating long-run inflation. The framework illustrates how exogenous economic and political economy factors generate pressures that, in the presence of central bank discretion, can have an impact on long-run inflation as well as transitions between steady states. We use the analysis to provide a fresh perspective on the forces that drove global inflation downward over the past four decades. We argue that for inflation to remain low and stable in the future, political economy factors, such as strengthened central bank independence or more credible public debt policy, would need to offset the global economic pressures now pushing average long-run inflation upward.

4 citations

Open via your library →

Cite this paper

https://doi.org/https://doi.org/10.1353/eca.2024.a943916

Or copy a formatted citation

@article{hassan2024,
  title        = {{Changing Central Bank Pressures and Inflation}},
  author       = {Hassan Afrouzi et al.},
  journal      = {Brookings Papers on Economic Activity},
  year         = {2024},
  doi          = {https://doi.org/https://doi.org/10.1353/eca.2024.a943916},
}

Paste directly into BibTeX, Zotero, or your reference manager.

Flag this paper

Changing Central Bank Pressures and Inflation

Flags are reviewed by the Arbiter methodology team within 5 business days.

Evidence weight

0.51

Balanced mode · F 0.40 / M 0.15 / V 0.05 / R 0.40

F · citation impact0.49 × 0.4 = 0.20
M · momentum0.60 × 0.15 = 0.09
V · venue signal0.50 × 0.05 = 0.03
R · text relevance †0.50 × 0.4 = 0.20

† Text relevance is estimated at 0.50 on the detail page — for your query’s actual relevance score, open this paper from a search result.