What Starts Inflation: Evidence from the OECD Countries

@article{Boschen2003WhatSI,
  title={What Starts Inflation: Evidence from the OECD Countries},
  author={John F. Boschen and Charles L. Weise},
  journal={Journal of Money, Credit, and Banking},
  year={2003},
  volume={35},
  pages={323 - 349}
}
We use a pooled cross-country time series framework to study the factors associated with the start of 73 inflation episodes in OECD countries since 1960. We find that policy-makers' pursuit of high real growth targets and national elections were important factors in initiating inflation episodes. U.S. inflation turns out to be a triggering event for simultaneous outbreaks of inflation across countries. Several other explanations for inflation starts, including increases in the natural rate of… CONTINUE READING

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