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Sources of Financial Instability: Challenges for Monetary and Fiscal Policy | Claudio Borio

Hidden Forces

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What's Driving the Disinflation?

You can't simply look at the inflationary number. Is it a lack of demand? Or is it that there are productivity gains in the driving down prices, pomercidity and other types of gain in the economy that are basic driving the prices down? For example, you were mentioning before, technology and the enfect of technology on the economy. Yes, that's definitely the case. So your point is, it matters what's causing the disinflation.

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