IDEAS home Printed from https://ideas.repec.org/b/bis/bisbps/70.html
   My bibliography  Save this book

Globalisation and inflation dynamics in Asia and the Pacific

Author

Listed:
  • Bank for International Settlements

Abstract

The Bank for International Settlements (BIS) organised a research workshop on globalisation and inflation dynamics in Asia and the Pacific on June 18-19 in Hong Kong SAR. The topic was endorsed by the Asian Consultative Council in February 2012 as the new monetary stability research theme for the two-year research programme of the BIS Representative Office for Asia and the Pacific. The conference venue was provided by the Hong Kong Monetary Authority. The goal of the event was to bring together researchers and policymakers to present the latest developments in the research area of globalisation and inflation. The workshop also helped to sharpen the focus on the key aspects of this topic in the research programme of the BIS Asian office going forward. There were 34 participants, including academics, researchers and policymakers from central banks and international organisations from the Asia-Pacific region, Europe and the United States. The workshop presentations revolved around five key themes: economic globalisation and inflation dynamics in the region; financial globalisation and its impact on exchange rate passthrough to inflation; the importance of commodity price swings; the difficulties measuring economic slack in small, open economies; and understanding how to interpret inflation expectation data from different sources. Emphasis was put on the changing economic and financial environment and the implications for monetary policymaking. In addition to presentations of research papers, the workshop included two high-level policy panel discussions focused on monetary policy challenges in the Asia-Pacific region. There was a broad recognition among the central bankers and academics of the importance of this topic for Asia and the Pacific. The discussions identified various theoretical channels through which global developments influence domestic inflation dynamics. In addition to the theoretical channels, there were questions about how labour market dynamics in Asia, especially in China, are spilling over to the region and elsewhere, and how new supply chain relationships in the region can amplify the transmission of inflation shocks. Several presenters noted the deep conceptual and empirical challenges related to the measurement of economic slack in dynamic, open economies of the type in Asia. The event also cast new light on the debate on how monetary policy should respond to commodity price swings. This volume is a collection of presentations during the workshop.

Individual chapters are listed in the "Chapters" tab

Suggested Citation

  • Bank for International Settlements, 2013. "Globalisation and inflation dynamics in Asia and the Pacific," BIS Papers, Bank for International Settlements, number 70.
  • Handle: RePEc:bis:bisbps:70
    as

    Download full text from publisher

    File URL: http://www.bis.org/publ/bppdf/bispap70.pdf
    File Function: Full PDF document
    Download Restriction: no

    File URL: http://www.bis.org/publ/bppdf/bispap70.htm
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Michele Ca’ Zorzi & Elke Hahn & Marcelo Sánchez, 2007. "Exchange Rate Pass-Through in Emerging Markets," The IUP Journal of Monetary Economics, IUP Publications, vol. 0(4), pages 84-102, November.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Ha, Jongrim & Marc Stocker, M. & Yilmazkuday, Hakan, 2020. "Inflation and exchange rate pass-through," Journal of International Money and Finance, Elsevier, vol. 105(C).
    2. Cozmanca, Bogdan-Octavian & Manea, Florentina, 2010. "Exchange Rate Pass-Through into Romanian Price Indices. Avar Approach," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(3), pages 26-52, September.
    3. James L Butkiewicz & Zeliha Ozdogan, 2014. "Financial crisis, monetary policy reform and the monetary transmission mechanism in Turkey," Middle East Development Journal, Taylor & Francis Journals, vol. 6(1), pages 66-83, January.
    4. Borensztein, Eduardo & Queijo Von Heideken, Virginia, 2016. "Exchange Rate Pass-through in South America: An Overview," IDB Publications (Working Papers) 7779, Inter-American Development Bank.
    5. Eduardo Borensztein & Virginia Queijo Von Heideken, 2016. "Exchange Rate Pass-through in South America: An Overview," IDB Publications (Working Papers) 95196, Inter-American Development Bank.
    6. Doris Ritzberger-Grünwald, 2013. "The impact of external shocks on inflation dynamics in CESEE," BIS Papers chapters, in: Bank for International Settlements (ed.), Globalisation and inflation dynamics in Asia and the Pacific, volume 70, pages 161-170, Bank for International Settlements.
    7. Rajmund MIRDALA, 2009. "Exchange Rate Pass-Through To Domestic Prices In The Central European Countries," Journal of Applied Economic Sciences, Spiru Haret University, Faculty of Financial Management and Accounting Craiova, vol. 4(3(9)_Fall).
    8. Sánchez, Marcelo, 2005. "Is time ripe for a currency union in emerging East Asia? The role of monetary stabilisation," Working Paper Series 567, European Central Bank.
    9. Kohlscheen, Emanuel, 2010. "Emerging floaters: Pass-throughs and (some) new commodity currencies," Journal of International Money and Finance, Elsevier, vol. 29(8), pages 1580-1595, December.
    10. Sánchez, Marcelo, 2009. "Monetary Union of Small Open Economies: The Role of Trasparency Misperceptions," Economia Internazionale / International Economics, Camera di Commercio Industria Artigianato Agricoltura di Genova, vol. 62(4), pages 469-504.
    11. Raphael Brun-Aguerre & Ana-Maria Fuertes & Matthew Greenwood-Nimmo, 2017. "Heads I win; tails you lose: asymmetry in exchange rate pass-through into import prices," Journal of the Royal Statistical Society Series A, Royal Statistical Society, vol. 180(2), pages 587-612, February.
    12. Nidhaleddine Ben Cheikh & Christophe Rault, 2016. "Recent estimates of exchange rate pass-through to import prices in the euro area," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 152(1), pages 69-105, February.
    13. Caporale, Guglielmo Maria & Helmi, Mohamad Husam & Çatık, Abdurrahman Nazif & Menla Ali, Faek & Akdeniz, Coşkun, 2018. "Monetary policy rules in emerging countries: Is there an augmented nonlinear taylor rule?," Economic Modelling, Elsevier, vol. 72(C), pages 306-319.
    14. Albagli, Elias & Calani, Mauricio & Hadzi-Vaskov, Metodij & Marcel, Mario & Ricci, Luca Antonio, 2020. "Comfort in Floating: Taking Stock of Twenty Years of Freely-Floating Exchange Rate in Chile," CEPR Discussion Papers 14967, C.E.P.R. Discussion Papers.
    15. Beatriz de Blas & Katheryn N. Russ, 2015. "Understanding Markups in the Open Economy," American Economic Journal: Macroeconomics, American Economic Association, vol. 7(2), pages 157-180, April.
    16. Delorme, Francois, 2014. "Viabilité et vulnérabilité des finances publiques du Québec à moyen terme : une proposition d’un cadre d’analyse et une évaluation [Sustainability and vulnerability of Québec's public finances in t," MPRA Paper 85050, University Library of Munich, Germany.
    17. Cozmanca,Bogdan-Octavian & Manea, Florentina, 2009. "Asymmetries in the exchange rate pass-through into Romanian price indices," Working Papers of Macroeconomic Modelling Seminar 092201, Institute for Economic Forecasting.
    18. Aleem, Abdul & Lahiani, Amine, 2014. "Monetary policy credibility and exchange rate pass-through: Some evidence from emerging countries," Economic Modelling, Elsevier, vol. 43(C), pages 21-29.
    19. Abdurrahman Nazif Çatık & Barış Gök, 2016. "A Time-Varying Parameter VAR Investigation of the Exchange Rate Pass-Through in Turkey," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 63(5), pages 563-579, December.
    20. Kurtović, Safet & Siljković, Boris & Denić, Nebojša & Petković, Dalibor & Mladenović, Svetlana Sokolov & Mladenović, Igor & Milovancevic, Milos, 2018. "Exchange rate pass-through and Southeast European economies," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 503(C), pages 400-409.

    Book Chapters

    The following chapters of this book are listed in IDEAS

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bis:bisbps:70. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Christian Beslmeisl). General contact details of provider: https://edirc.repec.org/data/bisssch.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.