Trade Openness and Inflation Episodes in the OECD
AbstractBoschen and Weise (Journal of Money, Credit, and Banking, 2003) model the probability of a large upturn in inflation in the OECD (an inflation start). We extend their work to consider the impact of trade openness on the probability of such an event. The main finding is that increased openness reduces the probability of an inflation start, both directly, and indirectly through restricting the role of general elections in triggering inflation starts.
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Bibliographic InfoArticle provided by Blackwell Publishing in its journal Journal of Money, Credit and Banking.
Volume (Year): 38 (2006)
Issue (Month): 2 (March)
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Web page: http://www.blackwellpublishing.com/journal.asp?ref=0022-2879
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- Janine Aron & John Muellbauer, 2007.
"Inflation dynamics and trade openness: with an application to South Africa,"
Economics Series Working Papers
WPS/2007-11, University of Oxford, Department of Economics.
- Janine Aron & John Muellbauer, 2007. "Inflation dynamics and trade openness: with an application to South Africa," CSAE Working Paper Series 2007-11, Centre for the Study of African Economies, University of Oxford.
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