The Disappearing Openness-Inflation Relationship : A Cross-Country Analysis of Inflation Rates

The robust negative correlation between openness and inflation found in cross-country data for the 1970s and 1980s has disappeared in the 1990s. There is now a strong negative correlation of inflation with per capita GDP, as higher-income countries have achieved significant disinflation not emulated by lower-income countries. Since 1973, the most consistent finding is that floating exchange rate regimes are associated with inflation rates at least 10 percent a year higher than pegged exchange rate regimes, after allowing for other factors. There is also a consistent positive correlation between land area and inflation.
Publication date: December 1999
ISBN: 9781451857795
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Inflation , Inflation , Money and Monetary Policy , Money and Monetary Policy , Exchange rate , openness , exchange rate regime , inflation rates , inflation rate

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