Title Page
Asia and Pacific Department
Copyright Page
© 2019 International Monetary Fund
June 2019
Contents
I. Introduction
II. Stylized Facts
A. Data
B. Summary Statistics
III. Empirical Approach: Inflation Co-Movement and Determinants
A. Measure of Co-Movement: The Instantaneous Quasi-Correlation
B. Drivers of Co-Movement: Empirical Specification and Results
IV. Robustness
V. Conclusions
Figures
1. Relationship between headline inflation co-movement and trade integration
2. Relationship between food inflation co-movement and trade integration
3. Relationship between core inflation co-movement and trade integration
4. Relationship between food inflation co-movement and rainfall co-movement
Tables
1. Food inflation co-movement regressions
2. Core inflation co-movement regressions
3. Food inflation co-movement, robustness checks
4. Core inflation co-movement, robustness checks
References
Appendix