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Globalization and Disinflation: A Note

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  • Assaf Razin

Abstract

The note analyzes how globalization forces induce monetary authorities, guided in their policies by the welfare criterion of a representative household, to put greater emphasis on reducing the inflation rate than on narrowing the output gaps.

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Bibliographic Info

Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 10954.

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Date of creation: Dec 2004
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Handle: RePEc:nbr:nberwo:10954

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  1. Assaf Razin & Chi-Wa Yuen, 2001. "The "New Keynesian" Phillips Curve: Closed Economy vs. Open Economy," NBER Working Papers 8313, National Bureau of Economic Research, Inc.
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Cited by:
  1. Martin T. Bohl & David G. Mayes & Pierre L. Siklos, 2011. "The Quality Of Monetary Policy And Inflation Performance: Globalization And Its Aftermath," Manchester School, University of Manchester, vol. 79(s1), pages 617-645, 06.
  2. G. Lim & Paul Mcnelis, 2006. "Central Bank Learning and Taylor Rules with Sticky Import Prices," Computational Economics, Society for Computational Economics, vol. 28(2), pages 155-175, September.
  3. Ernst Glatzer & Ernest Gnan & Maria Teresa Valderrama, 2006. "Globalization, Import Prices and Producer Prices in Austria," Monetary Policy & the Economy, Oesterreichische Nationalbank (Austrian Central Bank), issue 3, pages 24–43.
  4. Céline Allard, 2007. "Inflation in Poland," IMF Working Papers 07/41, International Monetary Fund.
  5. Raphael Auer & Andreas M. Fischer, 2008. "The effect of trade with low-income countries on U.S. industry," Globalization and Monetary Policy Institute Working Paper 14, Federal Reserve Bank of Dallas.
  6. Luke Willard & Tarhan Feyzioglu, 2006. "Does Inflation in China Affect the United States and Japan?," IMF Working Papers 06/36, International Monetary Fund.
  7. International Monetary Fund, 2010. "Commodity Prices and Inflation in the Middle East, North Africa, and Central Asia," IMF Working Papers 10/135, International Monetary Fund.
  8. Sánchez, Marcelo, 2006. "Implications of monetary union for catching-up member states," Working Paper Series 0630, European Central Bank.

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