this paper, we examine how inflation rates in two small open economies, namely Hong Kong and Singapore, interaqct with … correction model is used to study the inflation dynamics. It is found, that the Hong Kong and Singapore inflation rates, but not … the U.S. one, respond to the error correction term. Compared with Singapore, the Hong Kong inflation rate is more …

and Singapore, while Hong Kong and Thailand achieve more equalized outcomes. There is no evidence that smaller classes …