Commentary: Inflation Pressures and Monetary Policy in a Global Economy

Jordi Gali ()

International Journal of Central Banking, 2010, vol. 6, issue 1, pages 93-102

Abstract: What can estimated reduced-form inflation equations teach us regarding the role of global factors as determinants of inflation? Very little, according to modern monetary theory. I illustrate this claim by exploring the channels through which global factors influence inflation in the small open economy of Galí and Monacelli (2005).

JEL-codes: E31 F41 (search for similar items in EconPapers)
Date: 2010
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