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Emerging Asia and global inflation


  • Chris Hunt

    (Reserve Bank of New Zealand)


The integration of emerging markets such as China into the global economy has had a profound effect on the inflation process in advanced economies. This article examines the relationship between the integration of emerging Asia into the global economy and the inflation process in New Zealand, highlighting both the downward and upward pressures on inflation emanating from the region. Monetary policymakers appear to have benefited from the protracted deflationary impulse from lower import prices, which may have made the achievement of domestic inflation objectives easier to achieve than might otherwise have been the case. However, this positive supply shock has more recently been matched by the headwinds of higher commodity prices.

Suggested Citation

  • Chris Hunt, 2007. "Emerging Asia and global inflation," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 70, March.
  • Handle: RePEc:nzb:nzbbul:march2007:4

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    References listed on IDEAS

    1. Richard W. Fisher, 2006. "Monetary policymaking in a globalized world," Speeches and Essays 62, Federal Reserve Bank of Dallas.
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    Cited by:

    1. Scott Bowman & Patrick Conway, 2013. "China’s recent growth and its impact on the New Zealand economy," Treasury Working Paper Series 13/15, New Zealand Treasury.
    2. Victoria Yili Zhang, 2009. "The evolution of New Zealand's trade flows," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 72, pages 42-46, December.
    3. Dovern, Jonas & Gern, Klaus-Jürgen & Jannsen, Nils & Scheide, Joachim & van Roye, Björn, 2008. "Weltwirtschaft im Abschwung," Open Access Publications from Kiel Institute for the World Economy 28829, Kiel Institute for the World Economy (IfW).

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