NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Has Globalization Changed Inflation?

Laurence M. Ball

NBER Working Paper No. 12687
Issued in November 2006
NBER Program(s):   EFG   ME

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.

download in pdf format
   (90 K)

email paper

A non-technical summary of this paper is available in the June 2007 NBER digest.  You can sign up to receive the NBER Digest by email.

This paper is available as PDF (90 K) or via email.

Machine-readable bibliographic record - MARC, RIS, BibTeX

Document Object Identifier (DOI): 10.3386/w12687

Users who downloaded this paper also downloaded these:
Razin and Loungani w11641 Globalization and Inflation-Output Tradeoffs
Goldberg and Pavcnik w12885 Distributional Effects of Globalization in Developing Countries
Sbordone w13556 Globalization and Inflation Dynamics: the Impact of Increased Competition
Mishkin w13147 Inflation Dynamics
Woodford w13329 Globalization and Monetary Control
 
Publications
Activities
Meetings
NBER Videos
Data
People
About

Support
National Bureau of Economic Research, 1050 Massachusetts Ave., Cambridge, MA 02138; 617-868-3900; email: info@nber.org

Contact Us