Kamber et al (2020) investigate possible changes in the driving forces of inflation for a panel of 47 advanced and emerging market economies over a sample period from 1996 to 2018. Overall, the results support an open economy hybrid Phillips curve model of inflation with increased weight on...

We explore the role of interest rates in monetary policy transmission in China in the context of its multiple instrument setting. In doing so, we construct a new series of monetary policy surprises using information from high frequency Chinese financial market data around major monetary policy...