Key Elements of Global Inflation

Anderton, Robert; Galesi, Alessandro; Lombardi, Marco

doi:10.2139/ssrn.1502730

Cited by 5 publications

(3 citation statements)

References 53 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…At this point, we should mention some relevant applications. The GVAR approach has been used in forecasting applications (Ericsson & Reisman, 2012; Peseran et al., 2009), in global finance applications (Bussiere et al., 2013; Chen et al., 2010), while there are numerous global macroeconomics applications which examine a variety of subjects, that is, global inflation (Anderton et al., 2010; Galesi & Lombardi, 2009), global imbalances and exchange rate misalignments (Bettendorf, 2012; Bussiere et al., 2012), the role of the United States as a dominant economy (Chudik & Smith, 2013; Dees & Saint‐Guilhem, 2011; Konstantakis et al., 2015; Tsionas et al., 2016), the business cycle synchronization and the rising role of China in the world economy (Cesa‐Bianchi et al., 2012; Dreger & Zhang, 2013; Feldkircher & Korhonen, 2014), commodity price models (Gruss, 2014; Gutierrez & Piras, 2013), housing (Hiebert & Vansteenkiste, 2009; Jannsen, 2010), the effects of fiscal and monetary policy (Favero et al., 2011; Feldkircher & Huber, 2014; Hebous & Zimmermann, 2013), the labor market (Hiebert & Vansteenkiste, 2010), and the role of credit (Xu, 2012; Konstantakis & Michaelides, 2014).…”

Section: Related Workmentioning

confidence: 99%

Crisis and the Chinese miracle: A network—GVAR model

Michaelides

Chatzieleftheriou

Prelorentzos

2021

Bulletin of Econ Res

View full text Add to dashboard Cite

The present paper examines how the Chinese economy has managed to maintain its overall economic growth, and therefore its production, throughout the various crises, that is, the global crisis of 2007 and the E.U. structural crisis . The paper sets up a network-global vector autoregressive (GVAR) model that is estimated simultaneously for all the economies in the model, capable of uncovering the dominant entities in the network system, in the time period 1992-2017. According to our findings, the economies of the United States and EU17 are found to exhibit a dominant role in the GVAR system, which is confirmed using both node theory as well as econometric techniques. The results show that the Chinese economy is unaffected, in the long run, by unanticipated shocks in the dominant economies of the United States and EU17.

show abstract

Section: Related Workmentioning

confidence: 99%

Crisis and the Chinese miracle: A network—GVAR model

Michaelides

Chatzieleftheriou

Prelorentzos

2021

Bulletin of Econ Res

View full text Add to dashboard Cite

show abstract

“…Inflation is also the focus of Anderton et al . () who construct a GVAR model to examine oil price shocks and other key factors affecting global inflation. They consider calculating the impact of increased imports from low‐cost countries on manufacturing import prices and estimate Phillips curves in order to shed light on whether the inflationary process in OECD countries has changed over time.…”

Section: Empirical Applications Of the Gvar Approachmentioning

confidence: 99%

Theory and Practice of Gvar Modelling

Chudík

Pesaran

2014

Journal of Economic Surveys

163

View full text Add to dashboard Cite

Abstract. The Global Vector Autoregressive (GVAR) approach has proven to be a very useful approach to analyse interactions in the global macroeconomy and other data networks where both the cross-section and the time dimensions are large. This paper surveys the latest developments in the GVAR modelling, examining both the theoretical foundations of the approach and its numerous empirical applications. We provide a synthesis of existing literature and highlight areas for future research.

show abstract

“…Bentolila, Dolado and Jimeno (2008) show in their analysis for Spain that immigration has reduced the slope of the Phillips curve due to lower bargaining power of workers. According to Anderton et al. (2009), the bargaining power of workers in advanced economies is further reduced because of off‐shoring to China, India and the former Soviet bloc.…”

mentioning

confidence: 99%