negative effect of uncertainty shocks on trade is higher for trade relationships more intensive in durable goods. Surprisingly …

Under the Globalization Hypothesis for inflation, as globalization increases, global economic slack should … progressively replace the domestic gap in driving inflation. In order to assess the empirical support for this theoretical … prediction, we use impulse response functions of inflation to domestic and foreign output gap shocks from a TV-VAR model …

Under the Globalization Hypothesis for inflation, as globalization increases, global economic slack should … progressively replace the domestic gap in driving inflation. In order to assess the empirical support for this theoretical … prediction, we use impulse response functions of inflation to domestic and foreign output gap shocks from a TV-VAR model …

match the behavior of the USD/Euro exchange rate. The quantification exercise yields four key findings. First, negative …We estimate a multi-country multi-sector New Keynesian model to quantify the drivers of domestic inflation during 2020 …–2023 in several countries, including the United States. The model matches observed inflation together with sector-level prices …

import demand contributed to the rise in domestic inflation. …