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Persistent link: https://www.econbiz.de/10010339633
This study analyzes global inflation synchronization and derives policy implications for the Korean economy. Unlike previous studies that assume a single global inflation factor, this study investigates if inflation in Korea can be explained further by other global inflation factors. Our...
Persistent link: https://www.econbiz.de/10012294082
Persistent link: https://www.econbiz.de/10012219585
■ It is difficult to conclude that Korea is in a state of deflation as there is little possibility that the recent downward trend will continue. This is because September's price drops were largely spurred by temporary supply shocks, and core inflation has stalled at the mid-0% range. ■...
Persistent link: https://www.econbiz.de/10012844737
This paper compares the monetary policy problem in open economies with that in closed economies. It is found that the monetary policy problems in open and closed economies are isomorphic even in the presence of distortions in a steady state and hence the optimal monetary policies have similar...
Persistent link: https://www.econbiz.de/10012994024