Kamber et al (2020) investigate possible changes in the driving forces of inflation for a panel of 47 advanced and emerging market economies over a sample period from 1996 to 2018. Overall, the results support an open economy hybrid Phillips curve model of inflation with increased weight on...

Economic “slack” directly implies the ability for an economy to grow quickly without any necessary reversal in the future. This implication motivates a forecast-based approach to measuring economic slack. Given this approach, estimated output gaps for most of the major economies in Asia and...