Is inflation (still) a global phenomenon? We study the international co-movement of inflation based on a dynamic factor … explains approximately 58% of the variation in headline inflation across all countries and over 72% in OECD economies. The … explanatory power of global inflation is equally high in a shorter sample spanning the time since 2000. Core inflation is also …

inflation is found to be quite sensitive to the unemployment gap. An increase in cyclical unemployment by 1 percentage point … will reduce inflation by approximately 0.6 percentage points within a year. …

This paper examines the reasons for the declining path of inflation since the 1970s. In particular, it focusses on the … inflation. The paper makes use of different data from individual countries and panel of countries. These data show that the … dispersion of inflation and the behavior of relative prices follow a pattern that is consistent with several globalization …

Is inflation (still) a global phenomenon? We study the international co-movement of inflation based on a dynamic factor … explains approximately 58% of the variation in headline inflation across all countries and over 72% in OECD economies. The … explanatory power of global inflation is equally high in a shorter sample spanning the time since 2000. Core inflation is also …

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 …

This paper aims at evaluating the impact of globalization, if any, on inflation and the inflation process. We estimate … commodity import price inflation on CPI inflation depends on the volume of commodity imports while the impact of non …-commodity import price inflation is independent of the volume of non-commodity imports. Second, focusing on the role of intra …

inflation dynamics in open economies, but previous studies have not made a distinction between fixed and floating exchange rate … driving output and inflation (the underlying theory requires that monetary shocks dominate). We calculate new measures of the …

Standard open economy models predict that openness to trade should exert a positive effect on the slope of the output-inflation …

We examine the global dimension of inflation in 24 OECD countries between 1980 and 2007 in a traditional Phillips curve … changes in unit labor costs have a notable impact on inflation. Import price inflation plays a smaller role, and it is unclear … how global components of output gaps affect inflation. We conclude that central banks should monitor worldwide conditions …

the role of domestic factors in the inflation process in industrial economies. Toward that end, we estimate standard … Phillips curve inflation equations for 11 industrial countries and use these estimates to test several predictions of the … globalization and inflation hypothesis. Our results provide little support for that hypothesis. First, the estimated effect of …