Comments and Questions

Even the authors "adopt only two here – import price and trade openness indicators" and "model how much inflation of a specific country is affected by foreign markets, rather than how much global inflation is affected by global market supply and demanding conditions" for since the early 1990s, a period referred to as the ‘Great Moderation’ (see Bernanke), which period by any means differs essentially in the period before, throughout and after the great recession of 2007-09 that could be well seen on the Papers' Figures 1,2,3,4, and 5 the conclusions are aggregating the conclusive role of the globalization and the inflow of cheaper goods and services from the emerging to the developed markets to lower inflation and in cases to prompt deflation. Whereas, it could be well considered that such inflow is natural continuation of the improving high technologies in manufacturing and rising productivity, which supplemented by China's proactive approaches in economics have been increasingly flooding the developed and developing markets alike with cheaper manufacturing goods and services, that process had tipped off the world industrial production balance, process greatly accelerated. The inflation and deflation under these conditions should be prospected from a global picture, whereas the decreasing consumption-ability in most developed countries and the lower demand have additionally affected these processes. I recommend the authors for their hard work and notion to seek new approaches, and I would like to recommend them locate the appointed period ref the pre, on and post recession time combined with the market balance comprehension to give us a even better paper