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Global Value Chain Participation and Exchange Rate Pass-Through

Georgiadis, Georgios - 2019

This paper draws a causal link between the rise of global value chain participation and the decline of exchange rate pass-through to import prices over the last decades. We first present a structural two-country model in order to illustrate how participation in global value chains can impact...

Persistent link: https://www.econbiz.de/10012859921

Exchange Rate Shocks and Inflation Comovement in the Euro Area

Leiva‐Leon, Danilo - 2020

This paper decomposes the time-varying effect of exogenous exchange rate shocks on euro area countries inflation into … quarters of the past six years, especially in turning point periods. Our main results indicate that headline inflation in euro … inflation this increasing sensitivity is solely reliant on a sustained surge in the degree of comovement, for energy inflation …

Persistent link: https://www.econbiz.de/10012838756

Mapping Global Value Chains

De Backer, Koen - 2014

World trade and production are increasingly structured around “global value chains” (GVCs). The last years have witnessed a growing number of case studies describing at the product level how production is internationally fragmented, but there is little evidence at the aggregate level on the...

Persistent link: https://www.econbiz.de/10013054086

Global Value Chains : Surveying Drivers and Measures

Amador, Joao L.M. - 2014

The production of most goods and services is nowadays vertically fragmented across different countries, as global value chains (GVCs) emerged as the current paradigm for the international organisation of production. This paper surveys part of the growing empirical literature on GVCs, starting by...

Persistent link: https://www.econbiz.de/10013045551

Networks of Value Added Trade

Amador, João - 2016

Global Value Chains (GVCs) became the paradigm for the production of most goods and services around the world. Hence, interconnections among countries can no longer be adequately assessed through standard bilateral gross trade flows and new methods of analysis are needed. In this paper, we...

Persistent link: https://www.econbiz.de/10012987403

External Shocks and International Inflation Linkages : A Global VAR Analysis

Galesi, Alessandro - 2009

and food price shocks on a given set of countries. Secondly, we assess the importance of inflation linkages among … exist among regions. In addition, a considerable part of the observed headline inflation rises is attributable to foreign …

Persistent link: https://www.econbiz.de/10013159237

Estimating the elasticity of consumer prices to the exchange rate: An accounting approach

Camatte, Hadrien; Daudin, Guillaume; Faubert, Violaine; … - 2021

We analyse the elasticity of the household consumption expenditure (HCE) deflator to the exchange rate, using world input-output tables (WIOT) from 1995 to 2019. In line with the existing literature, we find a modest output-weighted elasticity of around 0.1. This elasticity is stable over time...

Persistent link: https://www.econbiz.de/10012661638

Sectoral Interlinkages in Lobal Value Chains : Spillovers and Network Effects

Frohm, Erik - 2019

economy. Our empirical results suggest that these sectoral spillovers are both statistically significant and of economic … links between these sectors and the rest of the global value chain are severed, the spillovers diminish strongly and … spillovers and the prominent role played by hub sectors in the global economy …

Persistent link: https://www.econbiz.de/10012871240

Domestic and Multilateral Effects of Capital Controls in Emerging Markets

Pasricha, Gurnain Kaur - 2015

. Using panel near-VARs, we find significant spillovers of capital control actions in BRICS (Brazil, Russia, India, China and …-border bank lending). Spillovers seem to be more prevalent in Latin America than in Asia, reflecting the greater role of cross …

Persistent link: https://www.econbiz.de/10013016947

Monetary Policy Spillovers, Capital Controls and Exchange Rate Flexibility, and the Financial Channel of Exchange Rates

Georgiadis, Georgios - 2019

We assess the empirical validity of the trilemma (or impossible trinity) in the 2000s for a large sample of advanced and emerging economies. To do so, we estimate Taylor-rule type monetary policy reaction functions, relating the local policy rate to real-time forecasts of domestic fundamentals,...

Persistent link: https://www.econbiz.de/10012872104