Artikel
Globalisation effect on inflation in the Great Moderation era: New evidence from G10 countries
Dynamic econometric models are built individually for ten countries from G10 during the Great Moderation period, with the aim of analysing counterfactually the globalisation effect on inflation. The main findings are (i) the effect is highly heterogeneous from country to country; (ii) increases in trade openness could be either inflationary or deflationary whereas increased imports from low-cost emerging-market economies are mostly deflationary; and (iii) there is almost no direct globalisation impact as far as inflation persistence is concerned while the impact on inflation variability can be positive as well as negative. Overall, globalisation is found to have contributed positively to lowering rather than stabilising inflation during the Great Moderation era.
- Sprache
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Englisch
- Erschienen in
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Journal: Economics: The Open-Access, Open-Assessment E-Journal ; ISSN: 1864-6042 ; Volume: 7 ; Year: 2013 ; Issue: 2013-25 ; Pages: 1-32 ; Kiel: Kiel Institute for the World Economy (IfW)
- Klassifikation
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Wirtschaft
Model Evaluation, Validation, and Selection
Price Level; Inflation; Deflation
Prices, Business Fluctuations, and Cycles: Forecasting and Simulation: Models and Applications
Open Economy Macroeconomics
- Thema
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inflation dynamics
globalisation
Inflation
Globalisierung
Freihandel
G-7-Staaten
- Ereignis
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Geistige Schöpfung
- (wer)
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Qin, Duo
He, Xinhua
- Ereignis
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Veröffentlichung
- (wer)
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Kiel Institute for the World Economy (IfW)
- (wo)
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Kiel
- (wann)
-
2013
- DOI
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doi:10.5018/economics-ejournal.ja.2013-25
- Handle
- Letzte Aktualisierung
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10.03.2025, 11:43 MEZ
Datenpartner
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Objekttyp
- Artikel
Beteiligte
- Qin, Duo
- He, Xinhua
- Kiel Institute for the World Economy (IfW)
Entstanden
- 2013