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The openness-inflation puzzle revisited

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Author Info
William C. Gruben
Darryl McLeod

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Abstract

Dynamic panel estimates show the negative relation between trade openness and inflation found by Romer (1993) but questioned by Terra (1998) became more robust in the 1990s, both among high income OECD and developing countries. Also during the 1990s, openness was associated with less variable inflation and had a stronger disinflation effect in economies with floating exchange rates.

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Paper provided by Federal Reserve Bank of Dallas in its series Center for Latin America Working Papers with number 0203.

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Date of creation: 2003
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Handle: RePEc:fip:feddcl:0203

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Keywords: Trade;

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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Cristina T. Terra, 1998. "Openness And Inflation: A New Assessment," The Quarterly Journal of Economics, MIT Press, vol. 113(2), pages 641-648, May. [Downloadable!] (restricted)
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  2. Christopher Bowdler, 2003. "Openness and the Output-Inflation Tradeoff," Economics Papers 2003-W04, Economics Group, Nuffield College, University of Oxford. [Downloadable!]
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  3. Guender, Alfred V. & McCaw, Sharon, 2000. "The inflationary bias in a model of the open economy: a note," Economics Letters, Elsevier, vol. 68(2), pages 173-178, August. [Downloadable!] (restricted)
  4. Lane, Philip R., 1997. "Inflation in open economies," Journal of International Economics, Elsevier, vol. 42(3-4), pages 327-347, May. [Downloadable!] (restricted)
  5. David Romer, 1998. "A New Assessment Of Openness And Inflation: Reply," The Quarterly Journal of Economics, MIT Press, vol. 113(2), pages 649-652, May. [Downloadable!] (restricted)
  6. Romer, David, 1993. "Openness and Inflation: Theory and Evidence," The Quarterly Journal of Economics, MIT Press, vol. 108(4), pages 869-903, November. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Paul Cavelaars, 2005. "Globalisation and Monetary Policy," DNB Working Papers 048, Netherlands Central Bank, Research Department. [Downloadable!]
  2. César Calderón & Klaus Schmidt Hebbel, 2008. "What Drives Inflation in the World?," Working Papers Central Bank of Chile 491, Central Bank of Chile. [Downloadable!]
  3. Harald Badinger, . "Globalization,the Output-Inflation Tradeoff, and Inflation," FIW Working Paper series 010, FIW. [Downloadable!]
  4. Mark A. Wynne & Erasmus K. Kersting, 2007. "Openness and inflation," Staff Papers, Federal Reserve Bank of Dallas, issue Apr. [Downloadable!]
  5. Christopher Bowdler & Adeel Malik, 2005. "Openness and inflation volatility: Cross-country evidence," Economics Papers 2005-W14, Economics Group, Nuffield College, University of Oxford. [Downloadable!]
  6. Christopher Bowdler & Luca Nunziata, 2005. "Trade union density and inflation performance: evidence from OECD panel data," "Marco Fanno" Working Papers 0009, Dipartimento di Scienze Economiche "Marco Fanno". [Downloadable!]
    Other versions:
  7. Christopher Bowdler & Luca Nunziata, 2004. "Labour Markets Institutions and Inflation Performance: Evidence from OECD panel data," Money Macro and Finance (MMF) Research Group Conference 2004 29, Money Macro and Finance Research Group. [Downloadable!]
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