Globalization And Disinflation
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Globalization And Disinflation
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Author : Assaf Razin
language : en
Publisher:
Release Date : 2004
Globalization And Disinflation written by Assaf Razin and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Capital market categories.
"The note analyzes how globalization forces induce monetary authorities, guided in their policies by the welfare criterion of a representative household, to put greater emphasis on reducing the inflation rate than on narrowing the output gaps"--NBER website
Globalization And Disinflation The Efficiency Channel
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Author : Assaf Razin
language : en
Publisher:
Release Date : 2005
Globalization And Disinflation The Efficiency Channel written by Assaf Razin and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with categories.
The Real World Economic Outlook 2003
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Author : Ann Pettifor
language : en
Publisher: Palgrave Macmillan
Release Date : 2003-12-05
The Real World Economic Outlook 2003 written by Ann Pettifor and has been published by Palgrave Macmillan this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003-12-05 with Business & Economics categories.
Building on the New Economic Foundation and Jubilee 2000's experience of making complex economic issues interesting and attractive to a mass audience, and publishing alternative reports, the Real World Economic Outlook provides an overview and reviews the global economy from a different and radical perspective. This first report looks at globalization and debt deflation.
Is Inflation Domestic Or Global Evidence From Emerging Markets
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Author : Mr.Rudolfs Bems
language : en
Publisher: International Monetary Fund
Release Date : 2018-11-08
Is Inflation Domestic Or Global Evidence From Emerging Markets written by Mr.Rudolfs Bems and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-11-08 with Business & Economics categories.
Following a period of disinflation during the 1990s and early 2000s, inflation in emerging markets has remained remarkably low and stable. Was this related to a global disinflation environment triggered by China's integration into world trade and the broader globalization in these economies, or to better domestic policies? In this paper, we review the inflation performance in a sample of 19 large emerging markets in the past couple of decades and quantify the impact of domestic and global factors in determining inflation. We document that the level, volatility, and persistence of inflation declined significantly, albeit not uniformly. Our results suggest that longer-term inflation expectations, linked to domestic factors, were the main determinant of inflation. External factors played a considerably smaller role. The results are a useful piece of evidence as emerging markets craft their monetary policies to navigate the future shift in global financial conditions.
The Global Disinflation Puzzle
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Author : Emilio Ocampo
language : en
Publisher:
Release Date : 2020
The Global Disinflation Puzzle written by Emilio Ocampo and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020 with categories.
In the last three decades average inflation rates have declined around the world. Since 1995 the number of countries with inflation rates below 10% a year increased from 98 (54% of the total) to an average of 178 in 2015-2019 (90% of the total). In the aftermath of the 2008 Global Financial Crisis (GFC), inflation in the US has averaged 1.8% a year despite an unprecedented monetary expansion, and more recently, a drop in the unemployment rate to historical lows. In the last decades, two of modern macroeconomic theory's most important relationships appear to have broken down: the Quantity Theory of Money (QTM) and the Phillips Curve (PC). This paper i) presents evidence that confirms the global disinflationary trend of the last three decades, ii) identifies previous historical episodes during which the QTM appeared to break down in the US and the UK and the theoretical reassessment that it provoked, iii) examines experts' reaction to the apparent current breakdown of the QTM and the PC and the alternative paradigms that have emerged, and iv) reviews the alternative hypotheses that have been proposed to explain global disinflation, focusing particularly on the effects of technological innovation and globalization.
Another Look At Global Disinflation
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Author : Toshitaka Sekine
language : en
Publisher:
Release Date : 2009
Another Look At Global Disinflation written by Toshitaka Sekine and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with Deflation (Finance) categories.
Globalization And Inflation Output Tradeoffs
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Author : Assaf Razin
language : en
Publisher:
Release Date : 2005
Globalization And Inflation Output Tradeoffs written by Assaf Razin and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with Fiscal policy categories.
"We demonstrate how capital account and trade account liberalizations help reduce inefficiencies associated with the fluctuations in the output gap, relative to the inefficiencies associated with the fluctuations in inflation. With capital account liberalization the representative household is able to smooth fluctuations in consumption, and thus becomes relatively insensitive to fluctuations in the output gap. With trade liberalization the economy tends to specialize in production but not in consumption. The correlation between fluctuations in the output gap and aggregate consumption is therefore weakened by trade openness; hence a smaller weight on the output gap in the utility-based loss function, compared to the closed economy situations. A key implication of the theory is that globalization forces could induce monetary authorities, to put a greater emphasis on reducing the inflation rate than on narrowing the output gaps. We provide a re- interpretation of the evidence on the effect of openness on the sacrifice ratio which supports the prediction of the theory"--National Bureau of Economic Research web site.
The Fiscal Consequences Of Deflation
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Author : António Afonso
language : en
Publisher:
Release Date : 2016
The Fiscal Consequences Of Deflation written by António Afonso and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with categories.
Globalisation And The Determinants Of Domestic Inflation
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Author : William R. White
language : en
Publisher:
Release Date : 2008
Globalisation And The Determinants Of Domestic Inflation written by William R. White and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with Globalization categories.
The remarkable stability of low domestic inflation in many countries requires explanation. In this paper, a number of competing hypotheses are evaluated on a stand-alone basis, and all are found to be inadequate. This includes the view that this outcome has been solely the result of more effective disinflationary monetary policies. However, a combination of these hypotheses (including a significant role for increased global competition) seems to provide a plausible explanation, not only for continuing low inflation, but also its coexistence with rapid growth and low real interest rates. Unfortunately, the analysis also leads to the conclusion that rising inflation, unwinding financial imbalances, or both, could easily follow the welcome stability seen to date.
Deflation
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Author : Chris Farrell
language : en
Publisher: Harper Collins
Release Date : 2004
Deflation written by Chris Farrell and has been published by Harper Collins this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Deflation (Finance) categories.