The aim of this paper is to evaluate the impact of globalization, if any, on inflation and the inflation process. We estimate standard Phillips curve equations on a panel of OECD countries over the last 25 years. While recent papers have concluded that globalization has had no significant...

Remarks before the O'Neil Center for Global Markets and Freedom Conference, SMU Cox School of Business, Dallas, Texas, October 16, 2009. ; This morning, I will argue that a decline in trade flows, at least to some degree, was to be expected during this tumultuous period, the most severe global...

Remarks before the Little Rock Rotary Club, Little Rock, February 14, 2006 ; "If we create the conditions to let our private sector do what it does by its very nature--constantly adapt and reposition itself--then we have nothing to fear from competition from our trading partners, including those...