Jafari Samimi, Ahmad; Ghaderi, Saman; Hosseinzadeh, Ramezan - In: Economics Letters 117 (2012) 3, pp. 573-577
The purpose of this paper is to test the hypothesis first documented by Romer (1993), that inflation is lower in more open economies. According to this hypothesis, central banks have a smaller incentive to engineer surprise inflations in economies that are more open because the Phillips curve is...