The implications of globalization for inflation
This study aims to investigate the effects of globalization for inflation. By using panel data , we estimate fixed effects regressions with the method of local projections introduced by Jordà (2005) and test how globalization affects core inflation , the harmonized consumer price index of servic...
Κύριος συγγραφέας: | |
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Άλλοι συγγραφείς: | |
Γλώσσα: | English |
Έκδοση: |
2022
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Θέματα: | |
Διαθέσιμο Online: | https://hdl.handle.net/10889/23441 |
Περίληψη: | This study aims to investigate the effects of globalization for inflation.
By using panel data , we estimate fixed effects regressions with the
method of local projections introduced by Jordà (2005) and test how
globalization affects core inflation , the harmonized consumer price
index of services as well as non-energy industrial goods. We test the
globalization hypothesis on twenty seven European countries and
nineteen Eurozone area countries separately. We find evidence that
globalization can moderate the increase in inflation after a widening of
the output gap and a rise in inflation expectations in European
countries. |
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