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The paper studies the extent of global inflation synchronization using a dynamic factor model in a large set of countries over a half century. The authors' methodology allows them to account for differences across groups of countries (advanced economies and emerging market and developing economies) and to analyze commonalities in inflation synchronization across a wide range of inflation measures. The paper reports three major results. First, inflation movements have become increasingly synchronized internationally over time: a common global factor has accounted for about 22 percent of variation in national inflation rates since 2001. Second, inflation synchronization has also become more broad-based: while it was previously much more pronounced among advanced economies than among emerging market and developing economies, it has become substantial in both groups over the past two decades. In addition, inflation synchronization has become significant across all inflation measures since 2001, whereas it was previously prominent only for inflation measures that included mostly tradable goods.

Advanced Economies --- Developing Economies --- Dynamic Factor Model --- Emerging Markets --- Finance and Financial Sector Development --- Financial Structures --- Global Inflation --- Inflation --- International Economics and Trade --- International Trade and Trade Rules --- Macroeconomic Management --- Macroeconomics and Economic Growth --- Synchronization

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The modern understanding of metal plasticity and fracturing began about 100 years ago, with pioneering work; first, on crack-induced fracturing by Griffith and, second, with the invention of dislocation-enhanced crystal plasticity by Taylor, Orowan and Polanyi. The modern counterparts are fracture mechanics, as invented by Irwin, and dislocation mechanics, as initiated in pioneering work by Cottrell. No less important was the breakthrough development of optical characterization of sectioned polycrystalline metal microstructures started by Sorby in the late 19th century and leading eventually to modern optical, x-ray and electron microscopy methods for assessments of crystal fracture surfaces, via fractography, and particularly of x-ray and electron microscopy techniques applied to quantitative characterizations of internal dislocation behaviors. A major current effort is to match computational simulations of metal deformation/fracturing behaviors with experimental measurements made over extended ranges of microstructures and over varying external conditions of stress-state, temperature and loading rate. The relation of such simulations to the development of constitutive equations for a hoped-for predictive description of material deformation/fracturing behaviors is an active topic of research. The present collection of articles provides a broad sampling of research accomplishments on the two subjects.

Research & information: general --- dislocation mechanics --- yield strength --- grain size --- thermal activation --- strain rate --- impact tests --- brittleness transition --- fracturing --- crack size --- fracture mechanics --- Hall-Petch equation --- Griffith equation --- size effect --- mechanical strength --- pearlitic steels --- suspension bridge cables --- dislocation microstructure --- fractal analysis --- plasticity --- representative volume element --- dislocation structure --- dislocation correlations --- dislocation avalanches --- nanotwin --- nanograin --- Au–Cu alloy --- micro-compression --- Cu-Zr --- ECAP --- deformation --- quasi-stationary --- subgrains --- grains --- coarsening --- Cu–Zr --- ultrafine-grained material --- dynamic recovery --- transient --- load change tests --- Charpy impact test --- GMAW --- additive manufacturing --- secondary cracks --- anisotropy --- linear flow splitting --- crystal plasticity --- DAMASK --- texture --- EBSD --- crack tip dislocations --- TEM --- grain rotation --- fatigue --- dislocation configurations --- residual stress --- indentation --- serration --- temperature --- dislocation --- artificial aging --- solid solution --- loading curvature --- aluminum alloy --- holistic approach --- dislocation group dynamics --- dynamic factor --- dislocation pile-up --- yield stress --- dislocation creep --- fatigue crack growth rate