A number of theoretical models predict that the slope of the Phillips curve increases with trade openness, but cross … 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 …

This paper examines the drivers of the post-pandemic surge in inflation in four small open economies: Czechia, Hungary … significantly to inflation in the post-2020 period across countries, alongside notable contributions from domestic factors …, while monetary policy shocks have had a minimal impact on inflation since 2022 in all the countries considered. Additionally …

competition to influence domestic inflation. By comparing the unrestricted and restricted specifications, we provide evidence that … foreign competition plays an important role in accounting for the behavior of inflation in the traded goods sector. Our … inflation in the 1990s. Our results also provide evidence against demand curves with a constant elasticity in the context of …

During the last two decades, the world has experienced a remarkable process of disinflation, with average inflation … rates in industrialized countries falling by 10 percentage points and an even sharper decline of the mean rate of inflation … in developing countries. Parallel to the decline in inflation rates, a tremendous increase in economic integration …

. This paper investigates whether greater openness to trade helps achieve inflation stability. Using panel data for a sample … effect of openness on inflation volatility. This relationship is estimated after controlling for the potential endogenity of … openness, and the average rate of inflation. We conduct a battery of robuistness tests, showing in particular the robustness of …

During the last two decades, the world has experienced a remarkable process of disinflation, with average inflation … rates in industrialized countries falling by 10 percentage points and an even sharper decline of the mean rate of inflation … in developing countries. Parallel to the decline in inflation rates, a tremendous increase in economic integration …

greater central bank independence; and (3) increased openness is more likely to reduce inflation in nations with less … their collective actions influence the equilibrium inflation outcome in an environment in which the central bank engages in … initially causes inflation to increase at low degrees of wage centralization but then, as wage centralization increases, results …

. This paper investigates whether greater openness to trade helps achieve inflation stability. Using panel data for a sample … effect of openness on inflation volatility. This relationship is estimated after controlling for the potential endogeneity of … openness, and the average rate of inflation. We conduct a battery of robustness tests, showing in particular the robustness of …

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 …