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Inflation dynamics and trade openness

Subtitle:
with an application to South Africa
Abstract:

Evolving openness to trade is hard to measure, despite its relevance to models of growth, inflation and exchange rates. Our innovative technique measures trade openness encompassing both observable trade policy (tariffs and surcharges) and unobservable trade policy (quotas and other nontariff barriers), capturing the latter by a smooth non-linear stochastic trend in a model for the share of manufactured imports in home demand for manufactured goods, controlling for the business cycle and exch...

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Publication status:
Published
Peer review status:
Not peer reviewed
Version:
Author's Original

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Institution:
University of Oxford
Research group:
South African Macroeconomic Research Programme
Department:
Social Sciences Division - Economics - Centre for the study of African Economies
More by this author
Institution:
University of Oxford
Research group:
South African Macroeconomic Research Programme
Oxford college:
Nuffield College
Department:
Social Sciences Division - Economics
Series:
CSAE working paper series
Publication date:
2007
URN:
uuid:93e74988-b4d3-464d-bb32-6b3b641c3e95
Local pid:
ora:2593

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