| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP13600 |
| DP13600 Global Inflation Synchronization | |
| Jongrim Ha; M. Ayhan Kose; Franziska Ohnsorge | |
| 发表日期 | 2019-03-19 |
| 出版年 | 2019 |
| 语种 | 英语 |
| 摘要 | We study the extent of global inflation synchronization using a dynamic factor model in a large set of countries over a half century. Our methodology allows us to account for differences across groups of countries (advanced economies and emerging market and developing economies) and to analyze commonalities in inflation synchronization across a wide range of inflation measures. We report three major results. First, inflation movements have become increasingly synchronized internationally over time: a common global factor has accounted for about 22 percent of variation in national inflation rates since 2001. Second, inflation synchronization has also become more broad-based: while it was previously much more pronounced among advanced economies than among emerging market and developing economies, it has become substantial in both groups over the past two decades. In addition, inflation synchronization has become significant across all inflation measures since 2001, whereas it was previously prominent only for inflation measures that included mostly tradable goods. |
| 主题 | International Macroeconomics and Finance |
| 关键词 | Global inflation Synchronization Dynamic factor model Advanced economies Emerging markets Developing economies |
| URL | https://cepr.org/publications/dp13600 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/542459 |
| 推荐引用方式 GB/T 7714 | Jongrim Ha,M. Ayhan Kose,Franziska Ohnsorge. DP13600 Global Inflation Synchronization. 2019. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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