The openness-inflation puzzle revisited

William Gruben and Darryl McLeod ()

No 203, Center for Latin America Working Papers from Federal Reserve Bank of Dallas

Abstract: Dynamic panel estimates show the negative relation between trade openness and inflation found by Romer (1993) but questioned by Terra (1998) became more robust in the 1990s, both among high income OECD and developing countries. Also during the 1990s, openness was associated with less variable inflation and had a stronger disinflation effect in economies with floating exchange rates.

Keywords: Trade (search for similar items in EconPapers)
Date: 2003
New Economics Papers: this item is included in nep-ifn and nep-mon
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