The openness-inflation puzzle revisited
AbstractDynamic 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.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by Federal Reserve Bank of Dallas in its series Center for Latin America Working Papers with number 0203.
Date of creation: 2003
Date of revision:
Other versions of this item:
- NEP-ALL-2003-11-09 (All new papers)
- NEP-IFN-2003-11-09 (International Finance)
- NEP-MON-2003-11-09 (Monetary Economics)
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.:
- Christopher Bowdler, 2003.
"Openness and the Output-Inflation Tradeoff,"
2003-W04, Economics Group, Nuffield College, University of Oxford.
- Christopher Bowdler, 2004. "Openness and the output-inflation tradeoff," Money Macro and Finance (MMF) Research Group Conference 2003 7, Money Macro and Finance Research Group.
- Maria Cristina Terra, 1995.
"Openess and inflation: a new assessment,"
Textos para discussÃ£o
339, Department of Economics PUC-Rio (Brazil).
- David Romer, 1991.
"Openness and Inflation: Theory and Evidence,"
NBER Working Papers
3936, National Bureau of Economic Research, Inc.
- Arellano, Manuel & Bover, Olympia, 1995.
"Another look at the instrumental variable estimation of error-components models,"
Journal of Econometrics,
Elsevier, vol. 68(1), pages 29-51, July.
- M Arellano & O Bover, 1990. "Another Look at the Instrumental Variable Estimation of Error-Components Models," CEP Discussion Papers dp0007, Centre for Economic Performance, LSE.
- 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.
- 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.
- Lane, Philip R., 1997. "Inflation in open economies," Journal of International Economics, Elsevier, vol. 42(3-4), pages 327-347, May.
- Ciżkowicz, Piotr & Rzońca, Andrzej, 2013.
"Does inflation harm corporate investment? Empirical evidence from OECD countries,"
Economics - The Open-Access, Open-Assessment E-Journal,
Kiel Institute for the World Economy, vol. 7(16), pages 1-38.
- Ciżkowicz, Piotr & Rzońca, Andrzej, 2012. "Does inflation harm corporate investment? Empirical evidence from OECD countries," Economics Discussion Papers 2012-63, Kiel Institute for the World Economy.
- Cavelaars, Paul, 2009. "Does globalisation discipline monetary policymakers?," Journal of International Money and Finance, Elsevier, vol. 28(3), pages 392-405, April.
- Christopher Bowdler & Adeel Malik, 2005.
"Openness and inflation volatility: Cross-country evidence,"
2005-W14, Economics Group, Nuffield College, University of Oxford.
- Christopher Bowdler & Adeel Malik, 2005. "Openness and inflation volatility: cross-country evidence," CSAE Working Paper Series 2005-08, Centre for the Study of African Economies, University of Oxford.
- 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.
- Badinger, Harald, 2009.
"Globalization, the output-inflation tradeoff and inflation,"
European Economic Review,
Elsevier, vol. 53(8), pages 888-907, November.
- Harald Badinger, 2008. "Globalization,the Output-Inflation Tradeoff, and Inflation," FIW Working Paper series 010, FIW.
- Lein-Rupprecht, Sarah M. & León-Ledesma, Miguel A. & Nerlich, Carolin, 2007.
"How is real convergence driving nominal convergence in the new EU Member States?,"
Working Paper Series
0827, European Central Bank.
- Lein, Sarah M. & León-Ledesma, Miguel A. & Nerlich, Carolin, 2008. "How is real convergence driving nominal convergence in the new EU Member States?," Journal of International Money and Finance, Elsevier, vol. 27(2), pages 227-248, March.
- Siklos, Pierre L., 2010. "Meeting Maastricht: Nominal convergence of the new member states toward EMU," Economic Modelling, Elsevier, vol. 27(2), pages 507-515, March.
- César Calderón & Klaus Schmidt Hebbel, 2008.
"What Drives Inflation in the World?,"
Working Papers Central Bank of Chile
491, Central Bank of Chile.
- Paul Cavelaars, 2005. "Globalisation and Monetary Policy," DNB Working Papers 048, Netherlands Central Bank, Research Department.
- Tahir Mukhtar, 2010. "Does Trade Openness Reduce Inflation? Empirical Evidence from Pakistan," Lahore Journal of Economics, Department of Economics, The Lahore School of Economics, vol. 15(2), pages 35-50, Jul-Dec.
- Claudio E. V. Borio & Andrew Filardo, 2007. "Globalisation and inflation: New cross-country evidence on the global determinants of domestic inflation," BIS Working Papers 227, Bank for International Settlements.
- Valderrama, Maria Teresa & Gnan, Ernest, 2006. "Globalization, Inflation and Monetary Policy," Monetary Policy & the Economy, Oesterreichische Nationalbank (Austrian Central Bank), issue 4, pages 37â54.
- 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".
- C. Bowdler & L. Nunziata, 2007. "Trade Union Density and Inflation Performance: Evidence from OECD Panel Data," Economica, London School of Economics and Political Science, vol. 74(293), pages 135-159, 02.
- Ciżkowicz, Piotr & Rzońca, Andrzej, 2010. "Inflation and corporate investment in selected OECD countries in the years 1960-2005 – an empirical analysis," MPRA Paper 29846, University Library of Munich, Germany.
- Jeffrey Frankel, 2009. "Comment on "The Simple Geometry of Transmission and Stabilization in Closed and Open Economies"," NBER Chapters, in: NBER International Seminar on Macroeconomics 2007, pages 119-129 National Bureau of Economic Research, Inc.
- Barlow, David, 2010. "How did structural reform influence inflation in transition economies?," Economic Systems, Elsevier, vol. 34(2), pages 198-210, June.
- Mark A. Wynne & Erasmus K. Kersting, 2007. "Openness and inflation," Staff Papers, Federal Reserve Bank of Dallas, issue Apr.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Delia Rodriguez).
If references are entirely missing, you can add them using this form.