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Nominal Exchange Rate Shocks and Inflation in an Open Economy : Towards a Structuralist Inflation Targeting Agenda
Bastian, Eduardo - 2017
This paper develops a model of inflation in an open economy. The model permits analysis of the susceptibility of open … paper arrives at a “structuralist inflation targeting agenda”. Based on a proper conception of inflation dynamics, this … involves “getting inflation targeting right” rather than either accepting mainstream inflation targeting prescriptions or …
Persistent link: https://www.econbiz.de/10012954770
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Understanding the time variation in exchange rate pass-through to import prices
Cunningham, Rose M.; Friedrich, Christian; Hess, Kristina; … - 2017
In this paper, we analyze the presence of time variation in the pass-through from the nominal effective exchange rate to import prices for 24 advanced economies over the period 1995-2015. In line with earlier studies in the literature, we find substantial heterogeneity in the level of exchange...
Persistent link: https://www.econbiz.de/10011747729
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Inflation, Openness, and Exchange-Rate-Regimes
Alfaro, Laura - 2009
does not play a role in restricting inflation in the short-run. On the other hand, a fixed exchange-rate regime plays a … significant role. The results are robust to controlling for other variables that determine inflation, performing sensitivity …
Persistent link: https://www.econbiz.de/10014029404
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Globalisation and the decoupling of inflation from domestic labour costs
Kohlscheen, Emanuel; Moessner, Richhild - 2021
We provide novel systematic cross-country evidence that the link between domestic labour markets and CPI inflation has … domestic labour cost changes to core CPI inflation decreased from 0.25 in the 1980s to just 0.02 in the 2010s, while the …
Persistent link: https://www.econbiz.de/10012612957
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Oil price pass-through into core inflation
Conitti, Cristina; Luciani, Matteo - 2017
that the oil price passes through core inflation only via its effect on the whole economy. This pass-through is estimated …
Persistent link: https://www.econbiz.de/10011710173
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Vehicle currency pricing and exchange rate pass-through
Chen, Natalie; Chung, Wanyu; Novy, Dennis - 2019
Using detailed firm-level transactions data for UK imports, we find that invoicing in a vehicle currency is pervasive, with more than half of transactions in our sample invoiced in neither sterling nor the exporter's currency. We then study the relationship between invoicing currency choices and...
Persistent link: https://www.econbiz.de/10012029070
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Intersectoral conflict and delays in macroeconomic stabilization
Razmi, Arslan - 2024
An important body of literature explores the political economy reasons underlying delays in macroeconomic stabilization. This paper develops a framework to analyze conflict between two groups of economic actors, one that has an endowment of internationally tradable goods and another that is...
Persistent link: https://www.econbiz.de/10014529854
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Sixty years of global inflation : a post-GFC update
Auer, Raphael A.; Pedemonte, Mathieu; Schoenle, Raphael - 2024
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 …
Persistent link: https://www.econbiz.de/10014551069
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Dangerous liaisons? An empirical assessment of inflation targeting and exchange rate regimes
Aguirre, Horacio; Burdisso, Tamara - 2008
The role of the exchange rate under inflation targeting (IT) remains an unresolved issue in literature and policy … whether there is a relation between the nominal exchange rate regime and inflation performance in IT countries. We use a panel … regime that differs from a pure float entails higher or lower inflation. We use two de facto foreign exchange regime …
Persistent link: https://www.econbiz.de/10010325099
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Dangerous liaisons? : an empirical assessment of inflation targeting and exchange rate regimes
Aguirre, Horacio; Burdisso, Tamara - 2008
The role of the exchange rate under inflation targeting (IT) remains an unresolved issue in literature and policy … whether there is a relation between the nominal exchange rate regime and inflation performance in IT countries. We use a panel … regime that differs from a pure float entails higher or lower inflation. We use two de facto foreign exchange regime …
Persistent link: https://www.econbiz.de/10003819680