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Globalization and Monetary Policy

Author

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  • Cohen, Lior

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.

Suggested Citation

  • Cohen, Lior, 2022. "Globalization and Monetary Policy," EconStor Preprints 306556, ZBW - Leibniz Information Centre for Economics.
    • Handle: RePEc:zbw:esprep:306556
    DOI: 10.13140/RG.2.2.35201.67688
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    More about this item

    Keywords

    Globalization; unconventional monetary policy; Philips curve flattening; inflation dynamics;
    All these keywords.

    JEL classification:

    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System

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