Microeconomic Aspects of the Globalization of Inflation
August 19–20, 2011 | Zurich, Switzerland
Sponsored by Swiss National Bank and Globalization and Monetary Policy Institute, Federal Reserve Bank of Dallas
The increasing trade integration of the global economy—in particular the rise of low-wage economies—has heightened research and policy interest in the importance of global influences on domestic inflationary processes. It is well known that the relationship between domestic slack and domestic inflation has weakened in recent decades. Some have attributed this weakening to the so-called global slack hypothesis—the idea that not just domestic resource utilization matters for domestic price pressures in an integrated world, but rather resource utilization at the global level. At the same time, the explosion of research using micro price data has advanced our understanding of the price setting process at the national and international level and improved our understanding of exchange-rate pass through.
We seek to combine both elements, the global perspective on inflation and the price setting process on the micro level.
Raphael Auer (Swiss National Bank), Peter Egger (ETH Zürich), Andreas Fischer
(Swiss National Bank), and Mark Wynne (Federal Reserve Bank of Dallas).
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|Micro, Macro, and Strategic Forces in International Trade Invoicing
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