Globalization, Pass-Through and Inflation Dynamic
---- Acknowledgements -----
We are grateful to the Fondation Banque de France for a grant sponsoring this project. We thank Matteo Bugamelli, Linda Goldberg, Luca Guerrieri, Argia Sbordone, Yuki Teranishi, for helpful suggestions and comments and seminar partecipants at the Banque de France, ESSIM and at the conference on "Globalization and Monetary Policy" organized by the Bank of Korea and Bank of Canada. Eleni Iliopulos and Hermes Morgavi have provided excellent research assistanship. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.