But overall trends still remain subdued and are not broad-based mainly because the effects of past low inflation are continuing to weigh on wage growth while the relationship between wage growth and traditional measures of slack has weakened in the post-crisis period.
These include estimated G-SIBs’ funding cost advantages by looking at prices of bonds, credit default swaps and equities. Inevitably, the results are not identical. Generally, they show that funding cost advantages peaked during the global ﬁnancial crisis and have since fallen, although not below levels seen before the crisis. Lower funding cost advantages indirectly suggest that the implicit funding subsidy has fallen.