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International inflation spillovers through input linkages

Auer, Raphael A.; Levchenko, Andrei A.; Sauré, Philip - 2017

We document that observed international input-output linkages contribute substantially to synchronizing producer price inflation (PPI) across countries. Using a multi-country, industry-level dataset that combines information on PPI and exchange rates with international and domestic input-output...

Persistent link: https://www.econbiz.de/10011619669

Sixty years of global inflation : a post-GFC update

Auer, Raphael A.; Pedemonte, Mathieu; Schoenle, Raphael - 2024

Is inflation (still) a global phenomenon? We study the international co-movement of inflation based on a dynamic factor model and in a sample spanning up to 56 countries during the 1960-2023 period. Over the entire period, a first global factor explains approximately 58% of the variation in...

Persistent link: https://www.econbiz.de/10014551069

The globalisation of inflation : the growing importance of global value chains

Auer, Raphael A.; Borio, Claudio E. V.; Filardo, Andrew J. - 2017 - This version: 06.01.2017

Greater international economic interconnectedness over recent decades has been changing inflation dynamics. This paper presents evidence that the expansion of global value chains (GVCs), ie cross-border trade in intermediate goods and services, is an important channel through which global...

Persistent link: https://www.econbiz.de/10011619539

China's exchange rate and financial repression : the conflicted emergence of the renminbi as an international currency

McKinnon, Ronald I.; Schnabl, Gunther - 2014

China has been provoked into speeding renminbi internationalization. But despite rapid growth in offshore financial markets in RMB, the Chinese authorities are essentially trapped into maintaining exchange controls-reinforced by financial repression in domestic interest rates→to avoid an...

Persistent link: https://www.econbiz.de/10010249643

Global financial transmission of monetary policy shocks

Ehrmann, Michael (contributor); … - 2006

Persistent link: https://www.econbiz.de/10003363952

The causal effects of global supply chain disruptions on macroeconomic outcomes : evidence and theory

Bai, Xiwen; Fernández-Villaverde, Jesús; Li, Yiliang; … - 2024

We study the causal effects and policy implications of global supply chain disruptions. We construct a new index of supply chain disruptions from the mandatory automatic identification system data of container ships, developing a novel spatial clustering algorithm that determines real-time...

Persistent link: https://www.econbiz.de/10014469003

Unbalanced financial globalization

Capelle, Damien; Pellegrino, Bruno - 2023

We examine the impact of the last five decades of financial globalization on world GDP and income distribution, using a … pattern Unbalanced Financial Globalization. We then simulate a counterfactual trajectory of the world economy where the RKO … wedges are fixed at their pre-globalization levels. We find that unbalanced financial globalization led to a worsening of …

Persistent link: https://www.econbiz.de/10014340224

Quantifying the extensive margin(s) of trade : the case of uneven European integration

Anderson, James E.; Yotov, Yoto - 2022

and a novel domestic extensive margin. The domestic extensive margin allows identification of globalization and specific … effects of globalization and European integration. We find strong positive effects of globalization and also significant but …

Persistent link: https://www.econbiz.de/10013285497

The rise of capitalism and the roots of Anti-American terrorism

Krieger, Tim; Meierieks, Daniel - 2014

This contribution examines the role of capitalism in anti-American terrorism. Using data for 149 countries between 1970 and 2007, this contribution, contrary to expectations from capitalist peace theory, does not find that Anti-American terrorism increases with external economic liberalization...

Persistent link: https://www.econbiz.de/10010375158

The globalization paradox revisited

Schwerhoff, Gregor; Edenhofer, Ottmar - 2014

According to the Globalization Paradox, globalization limits the freedom of choice for national governments. Capital …. Fixed factor taxes have the potential to improve welfare by defusing the globalization trilemma through a reduction in the …

Persistent link: https://www.econbiz.de/10010375314