This paper investigates the impact of participation in global value chains (GVCs) on inflation for a sample of 29 OECD … economies from 2000 to 2018. Overall, our empirical analysis finds that participation in GVCs increases inflation, which is … participation for high-income economies is insignificant, while we observe a significant negative relationship between inflation and …

direct price restraint caused by greater imports, assuming unchanged monetary policy, can explain a fall in inflation of up … to 0.14 percent per annum. However the most substantial impact on inflation arises from the role of lower markups in … reducing the inflation bias of monetary policy. Our results suggest that increased trade could account for as much as a quarter …

1850-1913. We find that consumer price inflation in all 15 countries co-moves with a broad measure of changes in commodity … which international business cycle movements affect inflation. …

Is inflation (still) a global phenomenon? We study the international co-movement of inflation based on a dynamic factor … explains approximately 58% of the variation in headline inflation across all countries and over 72% in OECD economies. The … explanatory power of global inflation is equally high in a shorter sample spanning the time since 2000. Core inflation is also …

Greater international economic interconnectedness over recent decades has been changing inflation dynamics. This paper …, is an important channel through which global economic slack influences domestic inflation. In particular, we document the … inflation rates, both across countries and over time. Accounting for the role of GVCs, we also find that the conventional trade …

We study co-movements of inflation in a group of 15 countries before and during the classical Gold Standard by fitting … inflation functions as an "attractor" for domestic inflation rates. The cross-sectional dispersion of inflation declined … six of reduced-form inflation equations. However, sub-sample estimates indicate that the overall finding that …

little persistence of inflation during the 19th century. Using a statistical technique that accounts for these errors, we … estimate the persistence of (a) US inflation and (b) inflation in 14 other economies over the period 1842-1913. Our results …

We empirically characterize episodes of large inflation surges that have been observed worldwide in the last three … decades. We document four facts. (1) Inflation following surges tends to be persistent, with the duration of disinflation … exceeding that of the initial inflation increase. (2) Surges are initially unexpected but followed by a gradual catch-up of …