Sacrifice Ratios, Benefice Ratios, and Globalization: Evidence from a New Set of Estimates

Harald Badinger and Elisabeth Nindl ()
Additional contact information
Elisabeth Nindl: Department of Economics, WU Vienna

Economics Bulletin, 2012, vol. 32, issue 1, 421-428

Abstract: This paper revisits the effect of globalization on the output-inflation trade-off, using a new data set of 1114 sacrifice and benefice ratios for a large cross-section of 118 countries over the time period 1966−2007, which is calculated following the approach of Jordan (1997). In line with previous studies our estimates suggest that larger (dis)inflations, effected over a short period, starting from high levels of inflation are associated with smaller sacrifice and benefice ratios. Globalization in terms of financial and trade openness has increased sacrifice and benefice ratios, with financial openness superseding the role of trade openness in importance since the 1990s.

Keywords: sacrifice ratio; benefice ratio; globalization (search for similar items in EconPapers)
JEL-codes: E0 F0 (search for similar items in EconPapers)
Date: 2012-01-27
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
http://www.accessecon.com/Pubs/EB/2012/Volume32/EB-12-V32-I1-P38.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ebl:ecbull:eb-11-00852

Access Statistics for this article

More articles in Economics Bulletin from AccessEcon
Bibliographic data for series maintained by John P. Conley ().