Discussion of “Understanding the international rise and fall of inflation since 2020”

IF 4.3 2区经济学 Q1 BUSINESS, FINANCE

Journal of Monetary Economics Pub Date : 2024-11-01 DOI:10.1016/j.jmoneco.2024.103685

Susanto Basu

引用次数: 0

Abstract

This discussion comments on the ambitious paper, “Understanding the International Rise and Fall of Inflation Since 2020,” by Mai Chi Dao, Pierre-Olivier Gourinchas, Daniel Leigh, and Prachi Mishra. The strengths of the DGLM paper are manifest. There is much to learn from it, both about the commonalities of the inflation experiences of this large group of important countries and their differences, and I draw some lessons and policy implications. I will suggest that one could have learned even more if the authors had devoted some of their effort to comparing the recent global inflation episode to earlier experiences, and if they had related their empirical specification and results to predictions of models with search frictions.

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讨论 "了解 2020 年以来国际通胀的涨跌"

本讨论对 Mai Chi Dao、Pierre-Olivier Gourinchas、Daniel Leigh 和 Prachi Mishra 所撰写的雄心勃勃的论文《理解 2020 年以来通货膨胀的国际涨落》进行了评论。DGLM 论文的优势显而易见。无论是关于这一大批重要国家的通货膨胀经验的共性，还是关于它们的差异，都有很多值得学习的地方。我想说的是，如果作者们能将最近的全球通胀事件与之前的经验进行比较，如果他们能将其经验规格和结果与搜索摩擦模型的预测联系起来，我们就能学到更多东西。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Journal of Monetary Economics Multiple-

CiteScore

7.20

自引率

4.90%

发文量

审稿时长

74 days

期刊介绍： The profession has witnessed over the past twenty years a remarkable expansion of research activities bearing on problems in the broader field of monetary economics. The strong interest in monetary analysis has been increasingly matched in recent years by the growing attention to the working and structure of financial institutions. The role of various institutional arrangements, the consequences of specific changes in banking structure and the welfare aspects of structural policies have attracted an increasing interest in the profession. There has also been a growing attention to the operation of credit markets and to various aspects in the behavior of rates of return on assets. The Journal of Monetary Economics provides a specialized forum for the publication of this research.