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Globalization disrupted the seemingly solid construction emerged in the aftermath of WW II, called the international …. Globalization has muddied the waters. The contemporary order in which multinational companies make the rules has made these …
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treatment of globalization can help. CPI inflation has become more synchronized around the world since the 2008 crisis, but core … and wage inflation have become less synchronized. Global factors (including commodity prices, world slack, exchange rates … role for all the inflation measures, although globalization has caused some “flattening” of this relationship, especially …
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This paper models inflation by combining the multi-country framework of one of its authors (Forbes) with the nonlinear specification proposed by the other two (Gagnon and Collins). The results find strong support for a Phillips curve that becomes nonlinear when inflation is low, in which case...
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The paper offers an overview of some key conceptual aspects associated with the rise of global value chains (GVCs). It outlines a series of alternative interpretations and definitions of what the rise of GVCs entails, and it traces the implications of these alternative conceptualizations for the...
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