The openness-inflation puzzle revisited
Dynamic panel estimates show the negative relation between trade openness and inflation found by Romer (Quarterly Journal of Economics, (VIII, 869-903, 1993) but questioned by Terra (Quarterly Journal of Economics, (XIII, 641-48, 1998) became more robust in the 1990s, both among high income OECD and developing countries. Trade openness was also associated with less variable inflation during the 1990s and had a stronger disinflation effect in economies with floating exchange rates.
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Volume (Year): 11 (2004)
Issue (Month): 8 ()
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References listed on IDEAS
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- Christopher Bowdler, 2004.
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Money Macro and Finance (MMF) Research Group Conference 2003
7, Money Macro and Finance Research Group.
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- Maria Cristina Terra, 1995.
"Openess and inflation: a new assessment,"
Textos para discussão
339, Department of Economics PUC-Rio (Brazil).
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Federal Reserve Bank of San Francisco, issue Nov.
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CEP Discussion Papers
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- 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.
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