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Henriksen, Espen - 2013

Cyclical fluctuations in nominal variables|aggregate price levels and nominal interest rates are documented to be substantially more synchronized across countries than cyclical fluctuations in real output. A transparent mechanism that can account for this striking feature of the nominal...

Persistent link: https://www.econbiz.de/10013075189

Globalization, Market Structure and Inflation Dynamics

Guilloux-Nefussi, Sophie - 2017

The decline in the sensitivity of inflation to domestic slack observed in developed countries since the mid 1980's has been often attributed to globalization. However, this intuition has so far not been formalized. I develop a general equilibrium setup in which the sensitivity of inflation to...

Persistent link: https://www.econbiz.de/10012967361

Globalization, Market Structure and the Flattening of the Phillips Curve

Guilloux-Nefussi, Sophie - 2015

The decline in the sensitivity of inflation to domestic slack observed in developed countries over the last 25 years has been often attributed to globalization. However, this intuition has so far not been formalized. I develop a general equilibrium setup that can rationalize the flattening of...

Persistent link: https://www.econbiz.de/10013026287

Globalization, Market Structure and the Flattening of the Phillips Curve

Guilloux-Nefussi, Sophie - 2015

Persistent link: https://www.econbiz.de/10013026701

Globalization, Market Structure and Inflation Dynamics

Guilloux-Nefussi, Sophie - 2016

The sensitivity of inflation to domestic slack has declined in developed countries since the mid-1980s. This article shows why this might result from globalization favoring concentration. To do so, I add three ingredients to an otherwise standard general equilibrium two-country new-Keynesian...

Persistent link: https://www.econbiz.de/10012977248

Strategic inattention, inflation dynamics, and the non-neutrality of money

Afrouzi, Hassan - 2020

How does competition affect information acquisition of firms and thus the response of inflation and output to monetary … inattention and oligopolistic competition. In the model, rationally inattentive firms acquire information about the endogenous … oligopolistic competition increases monetary non-neutrality by up to 77% and amplifies the half-life of output response to monetary …

Persistent link: https://www.econbiz.de/10012200269

Phillips Curve : Forward or Backward Looking?

Saeed, Syed Kashif; Riaz, Khalid - 2011

We estimate both a forward looking and a hybrid New Keynesian Phillips Curve using Generalized Method of Moments (GMM).the findings suggest that inflation is persistent phenomenon in Pakistan and past inflation is having significant explanatory power. Contrary to conventional wisdom, the output...

Persistent link: https://www.econbiz.de/10014042959

Openness and the Sacrifice Ratio Revisited

Lin, Hsin-Yi - 2011

This paper investigates the relationship between trade openness and the sacrifice ratio for 126 countries from 1973 to 2007. The instrumental variable quantile regression method is used to explain heterogeneous impact of openness on sacrifice ratio, where openness is endogenous. Empirical...

Persistent link: https://www.econbiz.de/10013126697

Openness and Inflation Revisited

Lin, Hsin-Yi - 2011

This paper investigates the relationship between trade openness and inflation for panel data from 1970 to 2007. The results show a negative effect of trade openness on inflation when inflation is higher but no effect when inflation is lower. The negative relationship is stronger along with the...

Persistent link: https://www.econbiz.de/10013126703

The small open-economy New Keynesian Phillips Curve : empirical evidence and implied inlfation dynamics

Mihailov, Alexander; Rumler, Fabio; Scharler, Johann - 2008

This paper applies GMMestimation to assess empirically the small open-economy New Keynesian Phillips Curve derived in Galí and Monacelli (2005). We obtain a testable specification where fluctuations in the terms of trade enter explicitly, thus allowing a comparison of the relevance of domestic...

Persistent link: https://www.econbiz.de/10009239047