Globalisation, Inflation and Monetary Policy in Asia and the Pacific

203 Pages Posted: 6 Oct 2014

Date Written: March 2014

Abstract

The People's Bank of China and the Bank for International Settlements co-hosted a research conference on "Globalisation and Inflation Dynamics in Asia and the Pacific" on 23-24 September 2013 in Beijing. This was the wrap-up conference for the BIS Asian Office's two-year research programme on globalisation and inflation that was launched by the Asian Consultative Council in February 2012.

The event brought together senior officials and researchers from central banks, international organisations and academia. Governor Zhou Xiaochuan of the People's Bank of China made the opening remarks and former Governor Masaaki Shirakawa of the Bank of Japan delivered the keynote address.

The research papers presented at the conference covered the dynamics of inflation forecasts in the region; the measurement of economic slack; supply chains and inflation spillovers; financial globalisation and the role of exchange rate in monetary policy; global commodity price cycles and their monetary policy implications; and the role of inflation in China's monetary policy rule.

This volume is a collection of the speeches, presentations and a background paper from the conference.

While the full publication can be downloaded using the above link, individual contributions are available separately:

Inflation Forecasts in Asia and the Pacific: Performance, Disagreement and Spillovers Measuring Economic Slack in Asia and the Pacific Is Inflation (or Deflation) "Always and Everywhere" a Monetary Phenomenon? Real Globalisation and Price Spillovers in Asia and the Pacific Responding to Exchange Rates in a Globalised World Has Asian Emerging Market Monetary Policy Been Too Procyclical When Responding to Swings in Commodity Prices? Inflation and China's Monetary Policy Reaction Function: 2002–2013 How Anchored are Inflation Expectations in Asia? Evidence from Surveys of Professional Forecasters

Keywords: globalisation, inflation, monetary policy, spillovers, inflation forecasts, economic slack, commodity prices, exchange rate pass-through

JEL Classification: E52, E58, E31, F62, F68

Suggested Citation

Settlements, Bank for International, Globalisation, Inflation and Monetary Policy in Asia and the Pacific (March 2014). BIS Paper No. 77, Available at SSRN: https://ssrn.com/abstract=2420025

Bank for International Settlements (Contact Author)

Bank for International Settlements (BIS) ( email )

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Basel, Basel-Stadt 4051
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