The presentation of the International Monetary Fund World Economic Outlook April 2013 is organised by the Centre for Finance and Development and the IMF.

The forthcoming April 2013 World Economic Outlook of the IMF will include one chapter on the recent behaviour of inflation in advanced economies and the possible inflationary risks going forward. Damiano Sandri, Economist at the IMF, will present the findings of this chapter in a discussion entitled "The dog that didn't bark: Has inflation been muzzled or was it just sleeping?".

Damiano Sandri will investigate why inflation has not fallen more during the Great Recession. The chapter finds that over the past decade or so, inflation in advanced economies has become less responsive to changes in economic slack and that longer-term inflation expectations have become more firmly anchored. Thus, the recent stability of inflation is consistent with the prevalence of ongoing resource slack and a more muted response of inflation to cyclical conditions. The chapter also discusses the risks to inflation going forward as well as the associated policy implications.

Damiano Sandri
Economist, Research Department, International Monetary Fund

Mr Damiano Sandri joined the International Monetary Fund in 2009 after obtaining his PhD in Economics from the Johns Hopkins University. Before his current assignment in the Research Department, Damiano has worked in the European Department participating in missions to Germany, Norway, Slovakia, and the UK. Prior to joining the Fund, he worked as a consultant in the Research Group of the World Bank. His main research interests are in the fields of macroeconomics and open economy macroeconomics. His work has been published in international journals and books.
 

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