Publication:
Global Inflation Synchronization

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dc.contributor.authorHa, Jongrim
dc.contributor.authorKose, M. Ayhan
dc.contributor.authorOhnsorge, Franziska L.
dc.date.accessioned2019-03-14T19:25:27Z
dc.date.available2019-03-14T19:25:27Z
dc.date.issued2019-03
dc.description.abstractThe paper studies the extent of global inflation synchronization using a dynamic factor model in a large set of countries over a half century. The authors' methodology allows them 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. The paper reports 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.en
dc.identifierhttp://documents.worldbank.org/curated/en/733211551994244422/Global-Inflation-Synchronization
dc.identifier.doi10.1596/1813-9450-8768
dc.identifier.urihttps://hdl.handle.net/10986/31394
dc.languageEnglish
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesPolicy Research Working Paper;No. 8768
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.subjectINFLATION
dc.subjectSYNCHRONIZATION
dc.subjectDYNAMIC FACTOR MODEL
dc.subjectEMERGING MARKET ECONOMIES
dc.subjectCONSUMER PRICE INDEX
dc.titleGlobal Inflation Synchronizationen
dc.typeWorking Paperen
dc.typeDocument de travailfr
dc.typeDocumento de trabajoes
dspace.entity.typePublication
okr.crossref.titleGlobal Inflation Synchronization
okr.date.disclosure2019-03-07
okr.doctypePublications & Research
okr.doctypePublications & Research::Policy Research Working Paper
okr.docurlhttp://documents.worldbank.org/curated/en/733211551994244422/Global-Inflation-Synchronization
okr.guid733211551994244422
okr.identifier.doi10.1596/1813-9450-8768
okr.identifier.externaldocumentum090224b086a3a0a0_1_0
okr.identifier.internaldocumentum30887022
okr.identifier.reportWPS8768
okr.importedtrueen
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/733211551994244422/pdf/WPS8768.pdfen
okr.statistics.combined34999
okr.statistics.dr733211551994244422
okr.statistics.drstats34335
okr.topicMacroeconomics and Economic Growth::Business Cycles and Stabilization Policies
okr.topicMacroeconomics and Economic Growth::Inflation
okr.topicMacroeconomics and Economic Growth::Macroeconomic Management
okr.unitMacroeconomics, Trade and Investment Global Practice
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