Has the inflation process changed?

BIS Working Papers No 185
November 2005
On 18-19 June 2004, the BIS held a conference on "Understanding Low Inflation and Deflation". This event brought together central bankers, academics and market practitioners to exchange views on this issue (see the conference programme in this document). This paper was presented at the workshop. The views expressed are those of the author(s) and not those of the BIS.

JEL classification: J31, J52

Keywords: inflation, inflation persistence, Monetary Policy Regimes