Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/162690
Authors: 
Parker, Miles
Year of Publication: 
2017
Series/Report no.: 
ECB Working Paper 2024
Abstract: 
This paper studies the role of global factors in causing common movements in consumer price inflation, with particular focus on the food, housing and energy sub-indices. It uses a comprehensive dataset of 223 countries and territories collected from national and international sources. Global factors explain a large share of the variance of national inflation rates for advanced countries - and more generally those with greater GDP per capita, financial development and central bank transparency - but not for middle and low income countries. Common factors explain a large share of the variance in food and energy prices.
Subjects: 
global ination
common factor
food prices
energy prices
JEL: 
E31
E52
F42
Persistent Identifier of the first edition: 
ISBN: 
978-92-899-2746-8
Document Type: 
Working Paper

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