Openness, exchange rate regimes and the Phillips curve.
A number of theoretical models predict that the slope of the Phillips curve increases with trade openness, but cross-country studies provide little evidence for such a correlation. We highlight two reasons for this …finding. Firstly, the strength of the relationship may depend on the extent of excha...
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| Format: | Working paper |
| Langue: | English |
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Nuffield College (University of Oxford)
2005
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