Globalization and Monetary Policy

Lior Cohen

EconStor Preprints from ZBW - Leibniz Information Centre for Economics

Abstract: I examine how globalization affects monetary policy, focusing on the labor market, imported inflation, and international spillovers by exploring the flattening of the Phillips Curve, where the traditional link between inflation and unemployment has weakened, potentially allowing central banks to pursue more accommodative policies. I also analyze how global integration complicates taming inflation and investigate how central banks’ policies impact other economies. By integrating empirical evidence and theoretical perspectives, this study provides insights into central banks’ evolving challenges in a globalized economy, offering implications for policy adjustments in response to global economic dynamics.

Keywords: Globalization; unconventional monetary policy; Philips curve flattening; inflation dynamics (search for similar items in EconPapers)
JEL-codes: E42 E52 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:esprep:306556

DOI: 10.13140/RG.2.2.35201.67688

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