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A Global Perspective on Inflation and Propagation Channels

Gattini, Luca; Pill, Huw; Schuknecht, Ludger - 2021

This paper revisits the evidence on the monetary policy transmission channels. It extends the existing literature along three lines: it takes a global perspective with aggregate series based on a broader set of countries (ca 70% per cent of the global economy) and a longer time (1960-2010) than...

Persistent link: https://www.econbiz.de/10013315888

Global Inflation

Ciccarelli, Matteo; Mojon, Benoit - 2021

This paper shows that inflation in industrialized countries is largely a global phenomenon. First, the inflation rates of 22 OECD countries have a common factor that alone accounts for nearly 70 percent of their variance. This large variance share that is associated with Global Inflation is not...

Persistent link: https://www.econbiz.de/10013318220

Monetary Policy and its Transmission in a Globalised World

Ca'Zorzi, Michele - 2020

This paper estimates and compares the international transmission of European Central Bank (ECB) and Federal Reserve System monetary policy in a unified and methodologically consistent framework. It identifies pure monetary policy shocks by purging them of the bias stemming from contemporaneous...

Persistent link: https://www.econbiz.de/10012834227

Financial Globalisation, Monetary Policy Spillovers and Macro-Modelling : Tales from 1001 Shocks

Georgiadis, Georgios - 2017

market expectations and the narrative approach …

Persistent link: https://www.econbiz.de/10012953383

Dominant-Currency Pricing and the Global Output Spillovers from Us Dollar Appreciation

Georgiadis, Georgios; Schumann, Ben - 2021

Different export-pricing currency paradigms have different implications for a host of issues that are critical for policymakers such as business cycle co-movement, optimal monetary policy, optimum currency areas and international monetary policy co-ordination. Unfortunately, the literature has...

Persistent link: https://www.econbiz.de/10013315352

Euro area inflation differentials

Angeloni, Ignazio; Ehrmann, Michael - 2004

We build a stylised 12-country model of the euro area and use it to analyse why differences in national inflation and growth rates arise within the European monetary union. We find that inflation persistence is a key potential explanatory factor. Other more frequently mentioned reasons, like...

Persistent link: https://www.econbiz.de/10011604434

Global inflation: The role of food, housing and energy prices

Parker, Miles - 2017

This paper studies the role of global factors in causing common movements in consumer price inflation, with particular focus on the food, housing and energy sub-indices. It uses a comprehensive dataset of 223 countries and territories collected from national and international sources. Global...

Persistent link: https://www.econbiz.de/10011667215

Global Inflation : The Role of Food, Housing and Energy Prices

Parker, Miles - 2017

Persistent link: https://www.econbiz.de/10012962351

Average inflation targeting and the interest rate lower bound

Budianto, Flora; Nakata, Taisuke; Schmidt, Sebastian - 2020

Assigning a discretionary central bank a mandate to stabilize an average in ation rate

Persistent link: https://www.econbiz.de/10012422056

Making sense of consumer inflation expectations: The role of uncertainty

Reiche, Lovisa; Meyler, Aidan - 2022

Consumers' inflation expectations play a key role in the monetary transmission mechanism. As such, it is crucial for … expectations. These include the apparent overestimation of inflation by consumers as well as the negative correlation observed … between the economic outlook and inflation expectations. We also show that the uncertainty framework fits with some of the …

Persistent link: https://www.econbiz.de/10013272133

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