Efectos de la Globalizacion sobre la Inflacion y la politica Monetaria Domestica

Globalization Effect on both Inflation and Domestic Monetary Policy

Santiago Adamcik

MPRA Paper from University Library of Munich, Germany

Abstract: This paper discusses that many of the exaggerated claims that globalization has been an important element in the reduction of the inflation in the recent years do not come true. The globalization has, however, the potential to contribute to the stabilization of economies and this has been crucial element in promoting the growth of economies. The paper, therefore, analyzes four issues on the impact of the globalization upon the mechanisms of monetary transmission and arrives at the following findings. ( 1 ) Globalization did not reduce the sensibility of inflation to the domestic production gaps and in consequence to the effectiveness of the monetary policy,. ( 2 ) Gaps in the product of external economies do not play a more important role than in other times,.( 3 ) Domestic monetary policy maintains still the control on the domestic interest rates and that way pursuing the stabilization of inflation and the product,.( 4 ) Globalization affects, by means of different forms, the mechanisms of monetary transmission

Keywords: Globalizacion; Inflacion; Politica Monetaria (search for similar items in EconPapers)
JEL-codes: E31 E42 E44 E58 G15 (search for similar items in EconPapers)
Date: 2008-02-09
New Economics Papers: this item is included in nep-cba, nep-mac and nep-mon
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