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...

International trade is a way to strengthen relations between country and other countries, especially in the economic field. Indonesia that has abundant natural wealth among such as oil gas non-oil gas. an exporting importing of Inflation affects value exports imports Indonesia. This study aims determine direction magnitude balance on inflation Indonesian region 1996-2021. The method used quanti...

We study the effects of inflation in models with various trading frictions. The framework is related to recent search-based monetary theory, in that trade takes place periodically in centralized and decentralized markets, but we consider three alternative mechanisms for price formation: bargaining, price taking, and posting. Both the value of money per transaction and market composition are end...

The article aims at determining the inflation influence between Poland and selected EU member states. Although for some time the general inflation level in those countries was definitely controllable, the problem seems to be returning. That is why in this article, using the model of Vector AutoRegression (VAR) and Granger causality test, we are attempting to determine inflation influences on Po...

Macroeconomic policy makers are typically concerned with several indicators of economic performance. We thus propose to tackle the design of macroeconomic policy using Multicriteria Decision Making (MCDM) techniques. More specifically, we employ Multiobjective Programming (MP) to seek so-called efficient policies. The MP approach is combined with a computable general equilibrium (CGE) model. We...

Understanding the sources of inflation persistence is crucial for monetary policy. This paper provides an assessment influence expectations' anchoring on inflation. We construct index using survey-based forecasts 45 economies since 1989. then study response consumer prices to terms-of-trade shocks and find that these have a significant persistent effect price when expectations are poorly anchor...

In the literature there are many determinants for the times series of US stock returns. The most notable are: inflation, inflation uncertainty, and the relative change in the value of the US dollar. This paper aims to reconsider and update this research question. Monthly data sets are used with the S&P 500 as the measure of the stock market index, and the US trade-weighted foreign exchange rate...

This article considers the international diffusion of business cycle on the basis of a rigorous dynamic microeconomic foundation. The seminal work of Laursen and Metzler (1950) suggests that the employment-isolation effect under the flexible exchange rate system is imperfect even if international capital mobility is completely prohibited. Assuming a small country model instead of the two countr...

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...

Against the background of large fluctuations in world commodity prices and global growth, combined with ongoing structural changes relating to globalisation, this paper examines some of the key factors affecting global inflation. The paper investigates the effects of shocks affecting relative prices and structural changes on global inflation by: estimating a global vector autoregression (GVAR) ...