near-term using an event study of inflation around global recessions and a factor-augmented vector auto-regression (FAVAR …We analyze the evolution and drivers of inflation during the pandemic and the likely trajectory of inflation in the …) model. We report three main results. First, the decline in global inflation during the 2020 global recession was the most …

model (FAVAR). From a set of non-energy commodity price series, we extract two factors, which we identify as common trends … in metals and a food prices. These factors are included in a FAVAR model together with selected macroeconomic variables …

How do trade patterns change after an external shock such as an economic crisis, and is this shift structural? This …

. Moreover, our analysis has shown that liquidity will first show up in asset price inflation and only later in consumer goods … inflation. This renders it difficult for central bank to exit from their current very expansive monetary policy stance if they …

Global inflation has risen sharply from its lows in mid-2020, on rebounding global demand, supply bottlenecks, and … soaring food and energy prices, especially since the Russian Federation's invasion of Ukraine. Markets expect inflation to … developments, the risk of stagflation-a combination of high inflation and sluggish growth-has risen. The recovery from the …

investigate whether monetary policy has become less effective in the wake of financial globalization. We also examine whether … there is increasing uncertainty for central banks due to globalization-driven changes in the national economic structure. A … FAVAR framework is applied to derive structural shocks on a worldwide level and their impact on other global and also …

investigate whether monetary policy has become less effective in the wake of financial globalization. We also examine whether … there is increasing uncertainty for central banks due to globalization-driven changes in the national economic structure. A … FAVAR framework is applied to derive structural shocks on a worldwide level and their impact on other global and also …

therefore adopt the FAVAR methodology of Bernanke, Boivin, and Eliasz [2005], aggregating a large number of time series into a …