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Convergence of Inflation rates during Flexible Exchange Rate Period

Author

Listed:
  • Kausik Chaudhuri

    (Indira Gandhi Institute of Development Research, Santosh Nagar, Gen. A. K. Vaidya Marg (Film City Road), Goregaon (East), Mumbai-400065, India)

Abstract

This paper examines the international convergence of inflation rates during the flexible rate period of eighteen OECD countries. Using individual country data, we find evidence of nonstationarity in most cases. The results are different in the case of the panel data model. Though, we can strongly reject the unit root hypothesis of a panel of eighteen countries, the evidence in favor of stationarity is less in case of countries in the European community or in case of EMS countries.

Suggested Citation

  • Kausik Chaudhuri, 2002. "Convergence of Inflation rates during Flexible Exchange Rate Period," Indian Economic Review, Department of Economics, Delhi School of Economics, vol. 37(1), pages 59-68, January.
    • Handle: RePEc:dse:indecr:v:37:y:2002:i:1:p:59-68
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    Cited by:

    1. Aviral Kumar Tiwari & Muhammad Shahbaz & Faridul Islam, 2013. "Does financial development increase rural‐urban income inequality?," International Journal of Social Economics, Emerald Group Publishing Limited, vol. 40(2), pages 151-168, January.

    More about this item

    Keywords

    Panel data; Unit root; Inflation; European Monetary System;
    All these keywords.

    JEL classification:

    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation

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