Product Market Competition and Inflation Persistence

Amr Hosny

A chapter in Risk Management Post Financial Crisis: A Period of Monetary Easing, 2014, vol. 96, pp 211-219 from Emerald Group Publishing Limited

Abstract: A number of studies have examined the role of typical demand supply factors in explaining inflation. The contribution in this chapter is to investigate the possible role of product market imperfections on inflation and inflation persistence, especially among emerging market economies. Using a backward-looking Phillips curve framework in a dynamic panel framework of 105 countries over the 2008–2011 period, our findings suggest that product market competition, as measured by the World Economic Forum’s measure of goods market imperfections do have a significant impact on inflation persistence. On average, higher competition and efficiency in product markets reduces the inflation persistence effect especially in the MENA region and countries at lower stages of development.

Keywords: Inflation; competition; inflation persistence; E5 (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:eme:csefzz:s1569-375920140000096008

DOI: 10.1108/S1569-375920140000096008

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