Inflation : Concepts, Evolution, and Correlates

Ha, Jongrim ; Ivanova, Anna ; Ohnsorge, Franziska ; Unsal, Filiz

World Bank, Washington, DC

关键词: INFLATION;    PRICES;    DEFLATION;    MONETARY POLICY;    ECONOMIC INTEGRATION;   

DOI  :  10.1596/1813-9450-8738
RP-ID  :  WPS8738

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

In the past four to five decades,inflation has fallen around the world, with median annualglobal consumer price inflation down from a peak of 16.6percent in 1974 to 2.6 percent in 2017. This decline beganin advanced economies in the mid-1980s and in emergingmarket and developing economies in the mid-1990s. By 2000,global inflation had stabilized at historically low levels.Lower inflation has been accompanied by reduced inflationvolatility, especially in advanced economies. Thisimprovement in inflation outcomes has stemmed in large partfrom structural economic changes, including improvedmonetary and fiscal policy frameworks as well asinternational trade and financial liberalization. Lower andmore stable inflation has often been associated with bettergrowth and development outcomes, partly by reducinguncertainty, fostering a more efficient allocation ofresources, and helping preserve financial stability.