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Has Globalization Changed Inflation? / Laurence M. Ball.
- Format:
- Book
- Author/Creator:
- Ball, Laurence M.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w12687.
- NBER working paper series no. w12687
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2006.
- Summary:
- Many observers suggest that the "globalization" of the U.S. economy has changed the behavior of inflation. This essay examines this idea, focusing on several questions: (1) Has globalization reduced the long-run level of inflation? (2) Has it affected the structure of inflation dynamics, as captured by the Phillips curve? (3) Has it contributed substantial negative shocks to the inflation process? The answers to these questions are no, no, and no.
- Notes:
- Print version record
- November 2006.
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