About this work
The recovery after COVID raised the possibility of escaping the weak growth and low inflation that followed the global financial crisis. By January 2024, renewed shortfalls relative to earlier growth paths suggested otherwise, particularly in China and Europe. The analysis links those output gaps to the possibility of returning to a subdued inflation environment.
Abstract
The recovery after COVID raised the possibility of escaping the weak growth and low inflation that followed the global financial crisis. By January 2024, renewed shortfalls relative to earlier growth paths suggested otherwise, particularly in China and Europe. The analysis links those output gaps to the possibility of returning to a subdued inflation environment.
Cite this work
Robin Brooks, Jonathan Fortun (2024). Global Macro Views: Output Gaps in the COVID Recovery. Institute of International Finance.