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We investigate the international linkages of inflation uncertainty in the G7. In a first step, we document that … inflation uncertainty in the G7 is intertwined. Moreover, the degree of synchronization has increased during the recent two … international shock that drives national inflation uncertainty and which is closely related to oil and commodity price uncertainty …
Persistent link: https://www.econbiz.de/10009730542
The positive relationship between real exchange rates and natural resource income is well understood and studied. However, climate change and the transition to a lower-carbon economy now challenges this relationship. We document this by proposing a novel news media-based measure of climate...
Persistent link: https://www.econbiz.de/10012391358
We study how domestic and global output gaps affect CPI inflation. We use a New-Keynesian Phillips curve framework …1-2017Q4 period. We find broadly that both global and domestic output gaps are significant drivers of inflation both in … output gaps on inflation. …
Persistent link: https://www.econbiz.de/10011929651
This paper shows the importance of technological synergies among heterogeneous firms for aggregate fluctuations. First, we document six novel empirical facts using microdata that suggest the existence of important technological synergies between trading firms, the presence of positive...
Persistent link: https://www.econbiz.de/10014496498
-on-quarter producer price inflation is predicted to decline by as much as 1.5 percentage points through August 2020. These results imply a …
Persistent link: https://www.econbiz.de/10012238496
Greater international economic interconnectedness over recent decades has been changing inflation dynamics. This paper …, is an important channel through which global economic slack influences domestic inflation. In particular, we document the … inflation rates, both across countries and over time. Accounting for the role of GVCs, we also find that the conventional trade …
Persistent link: https://www.econbiz.de/10011619539
found to help rationalizing the hump-shaped response of inflation, without resorting to the counterfactual assumption of …
Persistent link: https://www.econbiz.de/10003984363
uncertainty about inflation as a non-targeted moment. …How does competition affect information acquisition of firms and thus the response of inflation and output to monetary …
Persistent link: https://www.econbiz.de/10012200269
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 …
Persistent link: https://www.econbiz.de/10014444690
of the relation between market power and inflation. We examine this relation for individual firms in eleven U … generate quantitative evidence on the responsiveness of market power to inflation. We find that inflation usually has a …
Persistent link: https://www.econbiz.de/10009781552