Supply chain integration drives closer price co-movement, BIS paper finds
Analysis of sectoral data in Asia confirms that economic integration links prices
A new paper from the Bank for International Settlements (BIS) shows both headline inflation rates and producer prices move more closely together between Asian economies that trade more with one another, i.e. that share a higher degree of trade intensity.
Trade linkages and the globalisation of inflation in Asia and the Pacific, by Raphael Auer of the Swiss National Bank and Aaron Mehrotra of the BIS's Monetary and Economic Department, looks both at country-level data and also at a new dataset
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