analyze China’s role in global inflation dynamics. We identify Chinese supply and demand shocks and examine their … contributions to global price dynamics and the transmission mechanism. Our main findings are: (i) Chinese supply and demand shocks … exposure help explaining crosscountry differences in price responses. -- Global inflation ; China ; international business …

to GDP growth fluctuates from about 20 percent in normal times to 50 percent during the global financial crisis. (ii) The … positive ones. -- Financial shocks ; time-varying parameter VAR model ; Global Financial Crisis ; macro-financial linkages …

We explore the concept of global liquidity based on a factor model estimated using a large set of financial and … macroeconomic variables from 24 advanced and emerging market economies. We measure global liquidity conditions based on the common … global factors in the dynamics of liquidity indicators. By imposing theoretically motivated sign restrictions on factor …