Trade openness and inflation episodes in the OECD. From: Journal of Money, Credit & Banking | Date: March 1, 2006| Author: | COPYRIGHT 2006 Ohio State University Press. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information) Copyright information

Boschen and Weise (Journal of Money, Credit, and Banking, 2003) model the probability of a large upturn in inflation in the OECD (an inflation start). We extend their work to consider the impact of trade openness on the probability of such an event. The main finding is that increased openness reduces the probability of an inflation start, both directly, and indirectly through restricting the role of general elections in triggering inflation starts.

JEL codes: E31, F41 Keywords: inflation starts, trade openness.

IN A RECENT STUDY Boschen and Weise (2003) model the probability of a ...

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