- Abstract:
-
Standard open economy models predict that openness to trade should exert a positive effect on the slope of the output-iflation tradeoff, or Phillips curve, but such a proposition fi nds very little support in the existing empirical literature. We propose a new test of this hypothesis based on new measures of the slope of the Phillips curve and more general cross-country regression models. The results indicate some support for the standard theoretical prediction, but it is con ned to those cou...
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- Volume:
- 2003-W04
- Series:
- Economics Working Papers
- Publication date:
- 2003
- URN:
-
uuid:1a960b4a-261f-4af4-b931-0d260f59ea8b
- Local pid:
- oai:economics.ouls.ox.ac.uk:14590
- Language:
- English
- Copyright date:
- 2003
Working paper
Openness and the Output-Inflation Tradeoff.
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