Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/75207
Authors: 
Qin, Duo
He, Xinhua
Year of Publication: 
2013
Citation: 
[Journal:] Economics: The Open-Access, Open-Assessment E-Journal [Volume:] 7 [Issue:] 2013-25 [Pages:] 1-32
Abstract: 
Dynamic econometric models are built individually for ten countries from G10 during the Great Moderation period, with the aim of analysing counterfactually the globalisation effect on inflation. The main findings are (i) the effect is highly heterogeneous from country to country; (ii) increases in trade openness could be either inflationary or deflationary whereas increased imports from low-cost emerging-market economies are mostly deflationary; and (iii) there is almost no direct globalisation impact as far as inflation persistence is concerned while the impact on inflation variability can be positive as well as negative. Overall, globalisation is found to have contributed positively to lowering rather than stabilising inflation during the Great Moderation era.
Subjects: 
inflation dynamics
globalisation
JEL: 
C52
E31
E37
F41
Persistent Identifier of the first edition: 
Creative Commons License: 
http://creativecommons.org/licenses/by/3.0/
Document Type: 
Article

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