The openness-inflation puzzle revisited

William Gruben and Darryl McLeod (mcleod@fordham.edu)

Applied Economics Letters, 2004, vol. 11, issue 8, 465-468

Abstract: 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.

Date: 2004
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DOI: 10.1080/1350485042000244477

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