this paper, we examine how inflation rates in two small open economies, namely Hong Kong and Singapore, interact with those … model is used to study the inflation dynamics. It is found that Hong Kong and Singapore inflation rates, but not the U ….S. one, respond to the error correction term. Compared with Singapore, the Hong Kong inflation rate is more responsive to U …

considerably stronger relative to the impact on GDP since the mid-1980s, while the effects on inflation have become weaker …

impact inflation, little crowding out of private expenditure exists, and the multiplier tends to be larger compared to a one …

data determine two inflation regimes and find that they are characterized by high and low inflation volatility. We then … exhibit a more substantial and more persistent effect on downstream prices during periods of elevated inflation volatility … effective in State 2. Exogenously differentiating regimes by the level of inflation or the shock size does not reveal state …

transmission of monetary policies of the U.S., euro area, Japan, and United Kingdom. Two other studies use international data with …

found to help rationalizing the hump-shaped response of inflation, without resorting to the counterfactual assumption of …