Add to ORKGThis paper shows the way how persistent world inflation shocks hitting a small open economy can re-weight the importance of domestic and foreign factors in the determination of prices. In this sense, we study why the recently observed global disinflation environment may imply a weakening of the standard interest rate channel of monetary policy to affect inflation. We derive a state-dependent Phillips curve based on translog preferences that make the elasticity of substitution of domestic goods sensitive to foreign prices. With this approach we are able to replicate the dragging effect of global disinflation on domestic inflation, as experienced in small open economies such as New Zealand, Chile and Peru.Monetary Policy, Phillips Curve, Tran...
The dramatic decline in inflation across the world over the last 20 years has been largely credited ...
This paper addresses the globalization- disinflation hypothesis from the perspective of a open econo...
Since the invention of money, pressure to finance government debt and deficits, directly or indirect...
This paper addresses the globalization - disinflation hypothesis from the perspective of a open econ...
This paper addresses the globalization - disinflation hypothesis from the perspective of a open econ...
This paper addresses the globalization - disinflation hypothesis from the perspective of a open econ...
We analyze implications of inflation persistence for business cycle dynamics following terms of trad...
The dramatic decline in inflation across the world over the last 20 years has been largely credited ...
The dramatic decline in inflation across the world over the last 20 years has been largely credited ...
The dramatic decline in inflation across the world over the last 20 years has been largely credited ...
The dramatic decline in inflation across the world over the last 20 years has been largely credited ...
In this paper we apply GMM estimation to assess the relevance of domestic versus external determinan...
The dramatic decline in inflation across the world over the last 20 years has been largely credited ...
The dramatic decline in inflation across the world over the last 20 years has been largely credited ...
The issue of whether globalization has yielded structural changes in the process of inflation is cru...
The dramatic decline in inflation across the world over the last 20 years has been largely credited ...
This paper addresses the globalization- disinflation hypothesis from the perspective of a open econo...
Since the invention of money, pressure to finance government debt and deficits, directly or indirect...
This paper addresses the globalization - disinflation hypothesis from the perspective of a open econ...
This paper addresses the globalization - disinflation hypothesis from the perspective of a open econ...
This paper addresses the globalization - disinflation hypothesis from the perspective of a open econ...
We analyze implications of inflation persistence for business cycle dynamics following terms of trad...
The dramatic decline in inflation across the world over the last 20 years has been largely credited ...
The dramatic decline in inflation across the world over the last 20 years has been largely credited ...
The dramatic decline in inflation across the world over the last 20 years has been largely credited ...
The dramatic decline in inflation across the world over the last 20 years has been largely credited ...
In this paper we apply GMM estimation to assess the relevance of domestic versus external determinan...
The dramatic decline in inflation across the world over the last 20 years has been largely credited ...
The dramatic decline in inflation across the world over the last 20 years has been largely credited ...
The issue of whether globalization has yielded structural changes in the process of inflation is cru...
The dramatic decline in inflation across the world over the last 20 years has been largely credited ...
This paper addresses the globalization- disinflation hypothesis from the perspective of a open econo...
Since the invention of money, pressure to finance government debt and deficits, directly or indirect...