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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
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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
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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
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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
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Global financial transmission of monetary policy shocks
Ehrmann, Michael (contributor);  … - 2006
Persistent link: https://www.econbiz.de/10003363952
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Domestic and global output gaps as inflation drivers : what does the Phillips curve tell?
Jašová, Martina; Moessner, Richhild; Takáts, Előd - 2018
We study how domestic and global output gaps affect CPI inflation. We use a New-Keynesian Phillips curve framework which controls for nonlinear exchange rate movements for a panel of 26 advanced and 22 emerging economies covering the 1994Q1-2017Q4 period. We find broadly that both global and...
Persistent link: https://www.econbiz.de/10011929651
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Do civil and political repression really boost foreign direct investments?
Harms, Philipp; Ursprung, Heinrich W. - 2001
Multinational enterprises are often accused to have a preference for investing in countries in which the working populations' civil and political rights are largely disregarded. This paper presents an empirical investigation of the popular political repression boosts FDI hypothesis and arrives...
Persistent link: https://www.econbiz.de/10011397998
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Globalization, inequality, and redistribution : theory and evidence
Gozgor, Giray; Ranjan, Priya - 2015
This paper constructs a simple theoretical model to study the implications of globalization for inequality and … redistribution. It shows that when globalization increases inequality, a policymaker interested in maximizing the sum of welfares of … all agents increases redistribution. Empirically, the paper examines the effects of globalization on inequality and …
Persistent link: https://www.econbiz.de/10011343065
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Did globalization influence credit market deregulation?
Eppinger, Peter S.; Potrafke, Niklas - 2015
We investigate whether globalization influenced credit market deregulation over the period 1970-2010. Globalization is … measured by the KOF indices of globalization. Credit market deregulation is measured by the credit market freedom indicators of … positive correlation between globalization and credit market deregulation. We account for reverse causality by using predicted …
Persistent link: https://www.econbiz.de/10010528971
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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