{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,5,29]],"date-time":"2026-05-29T10:20:27Z","timestamp":1780050027628,"version":"3.53.1"},"reference-count":23,"publisher":"Wiley","issue":"5","license":[{"start":{"date-parts":[[2019,4,4]],"date-time":"2019-04-04T00:00:00Z","timestamp":1554336000000},"content-version":"vor","delay-in-days":0,"URL":"http:\/\/onlinelibrary.wiley.com\/termsAndConditions#vor"}],"content-domain":{"domain":["onlinelibrary.wiley.com"],"crossmark-restriction":true},"short-container-title":["J of Applied Econometrics"],"published-print":{"date-parts":[[2019,8]]},"abstract":"<jats:title>Summary<\/jats:title><jats:p>Ciccarelli and Mojon (CM; <jats:italic>Review of Economics and Statistics<\/jats:italic>, 2010, <jats:italic>92<\/jats:italic>(3), 524\u2013535) propose an inflation forecasting model incorporating a global inflation factor and show that it consistently beats several standard forecasting benchmarks. We show that CM's global inflation model does not improve upon the Atkeson and Ohanian (AO; <jats:italic>Federal Reserve Bank of Minneapolis Quarterly Review<\/jats:italic>, 2001, <jats:italic>25<\/jats:italic>(1), 2\u201311) naive benchmark. However, we find that augmenting the AO model with a global inflation factor improves forecast accuracy at longer horizons, supporting CM's claim about the usefulness of global inflation.<\/jats:p>","DOI":"10.1002\/jae.2704","type":"journal-article","created":{"date-parts":[[2019,3,8]],"date-time":"2019-03-08T03:47:04Z","timestamp":1552016824000},"page":"850-857","update-policy":"https:\/\/doi.org\/10.1002\/crossmark_policy","source":"Crossref","is-referenced-by-count":15,"title":["Does global inflation help forecast inflation in industrialized countries?"],"prefix":"10.1002","volume":"34","author":[{"given":"Christian","family":"Gillitzer","sequence":"first","affiliation":[{"name":"School of Economics The University of Sydney  Camperdown New South Wales Australia"}],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Martin","family":"McCarthy","sequence":"additional","affiliation":[{"name":"Department of Economics University of Oxford  Oxford UK"}],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"311","published-online":{"date-parts":[[2019,4,4]]},"reference":[{"issue":"1","key":"e_1_2_6_2_1","first-page":"2","article-title":"Are Phillips curves useful for forecasting inflation?","volume":"25","author":"Atkeson A.","year":"2001","journal-title":"Federal Reserve Bank of Minneapolis Quarterly Review"},{"key":"e_1_2_6_3_1","doi-asserted-by":"crossref","unstructured":"Auer R. 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