The Effect of Globalization on Market Structure, Industry Evolution and Pricing
he Globalization and Monetary Policy Institute and Swiss National Bank enlisted researchers from both sides of the Atlantic for a conference focused on the determinants and dynamics of prices in a globalized economy. Increased globalization has heightened research and policy interest in external factors as drivers of inflation. Firms? pricing decisions are at the core of the analysis.
Hyperinflation in Zimbabwe
One hundred trillion dollars?that?s100,000,000,000,000?is the largest denomination of currency ever issued.1 The Zimbabwean government issued the Z$100 trillion bill in early 2009, among the last in a series of ever higher denominations distributed as inflation eroded purchasing power. When Zimbabwe attained independence in 1980, Z$2, Z$5, Z$10 and Z$20 denominations circulated, replaced three decades later by bills in the thousands and ultimately in the millions and trillions as the government sought to prop up a weakening economy amid spiraling inflation.
The Potential Impact of Decentralized Virtual Currency on Monetary Policy
Electronic money is a broad term for any money, currency or asset not held in physical form?it can include representations of a sovereign currency or claims on a realworld good.
Financial Frictions Conference: Reviews Paths to Monetary Policy Objectives
The Globalization and Monetary Policy Institute hosted ?Financial Frictions and Monetary Policy in an Open Economy,? March 16?17, in Dallas. The conference brought together theoretical and empirical researchers to examine how financial frictions?often using models in which company balance sheets appear prominently?affect monetary policy in an open economy.
Globalization: The Elephant in the Room That Is No More
Unlike what has been conventionally argued, the forces of globalization appear to be?if anything?a headwind to the conduct of monetary policy for the purpose of macroeconomic stabilization.
Microeconomic Aspects of the Globalization of Inflation: A Joint Conference with the Swiss National Bank
The Globalization and Monetary Policy Institute hosted ?Microeconomic Aspects of the Globalization of Inflation,? a joint conference with the Swiss National Bank on Aug. 19?20 in Zurich. The conference brought together researchers to examine how globalization affects pricing, exploring in greater detail some of the issues raised by Auer and Fischer (2010), as well as to increase understanding of how price dynamics unleashed by globalization affect the measurement of fundamental determinants of improved living standards over time.
Five Years of Research on Globalization and Monetary Policy: What Have We Learned?
ive years ago the Federal Reserve Bank of Dallas created the Globalization and Monetary Policy Institute to promote research that would help us better understand the implications of globalization for the conduct of monetary policy in the United States. We are now half a decade into this research program, and the institute?s 2012 annual report is a fitting place to assess what has been accomplished over the past five years.
The euro and the dollar in the crisis and beyond
The euro has survived its first decade, overcoming questions about its viability and political and economic raison d'tre. ?The Euro and the Dollar in the Crisis and Beyond,? a conference sponsored by Bruegel, the Peterson Institute for International Economics and the Federal Reserve Bank of Dallas, marked the milestone on March 17, 2010, with discussions of Europe?s monetary integration, the euro?s global role relative to the dollar and the currency?s prospects in the aftermath of the 2008?09 global recession.
Conference on International Economics
Globalization has led to increased integration across countries in goods markets and financial markets and has changed the environment in which policy operates. As a result, researchers in the various subfields have developed new methods to study and measure the consequences of globalization. To better understand these developments, the Federal Reserve Bank of Dallas? Globalization Institute and the University of Houston brought together researchers from academic institutions and the Federal Reserve System for a conference focusing on international trade and prices and on international ...
Shipping Indexes Signal Global Economic Trends
International trade is the centerpiece of the global economy; the United States increasingly turns to foreign suppliers for many consumer goods it once produced domestically. Yet, many studies of international trade emphasize only the starting and finish lines of the supply chain, with little consideration of how goods arrive at their final destination. A closer look at the logistics reveals a story of competition and innovation, in which a complex and dynamic network of ships moves the vast majority of traded goods across the world?s oceans. A number of indexes document two principal sectors ...