Against the background of large fluctuations in world commodity prices and global growth, combined with ongoing structural changes relating to globalization, this paper examines some of the key factors affecting global inflation. The paper empirically investigates various relative price and structural impacts on global inflation by: estimating a GVAR to examine how oil price shocks feed through...

In this paper, we empirically examine the effect of inflation targeting on the exchange rate pass-through to prices in emerging countries. We use a panel VAR that allows us to use the larger data set on twenty-seven emerging countries (fifteen inflation targeters and twelve inflation nontargeters). Our evidence suggests that inflation targeting in emerging countries has helped to reduce the pas...

Rising ratios of trade to world output (Chart 1) and the integration of emerging markets in the global economy (Chart 2) have been key aspects of globalisation. Several of the possible macroeconomic consequences were explored in a recent Quarterly Bulletin article by Spange and Young (2007). These phenomena are having a profound effect on the world economy. But what implications do they have fo...

Indonesia's export-import activities in recent years, the value of exports and imports has decreased due to global conditions. The problems that occur are uncertainty complexity estimating international trade oil gas non-oil sectors, dependence on just one or a few markets, problem unfair competition, competition between business actors can reduce prices. is influenced by several external facto...

A key emerging insight in international economics is that the scope for quality differentiation can help to explain patterns in export prices at the level of products or firms. In this paper, a unified theoretical framework of firm heterogeneity in cost and quality is brought to bear on an expansive data set of U.S. import transaction prices collected by the Bureau of Labor Statistics (BLS). Th...