The Globalisation of Inflation: A View from the Cross Section

6 Pages Posted: 14 Apr 2013

See all articles by Raphael Auer

Raphael Auer

Swiss National Bank; Bank for International Settlements (BIS)

Philipp Saure

Swiss National Bank

Date Written: February 1, 2013


We examine whether a higher degree of trade integration is associated with a higher rate of price spillovers. More specifically, we examine how bilateral sector-specific trade integration affects the bilateral co-movements of sectoral prices. Our findings suggest that increasing trade integration was associated with a significant increase in the rate of price spillovers, which is consistent with the hypothesis that increasing real integration has made the inflation process a more global one. We conclude with describing our current work in this research field.

Full publication: Globalisation and Inflation Dynamics in Asia and the Pacific

Keywords: Globalisation, Inflation, International Supply Chain, Exchange Rate Pass

JEL Classification: E31, F41, F61, F62

Suggested Citation

Auer, Raphael and Saure, Philipp, The Globalisation of Inflation: A View from the Cross Section (February 1, 2013). BIS Paper No. 70m, Available at SSRN:

Raphael Auer (Contact Author)

Swiss National Bank ( email )

Fraumuensterstr. 8
Zurich, 8022

Bank for International Settlements (BIS)

Centralbahnplatz 2
Basel, Basel-Stadt 4002

Philipp Saure

Swiss National Bank ( email )

Fraumuensterstr. 8
Zuerich, 8022

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