All Rights Reserved
AccessEcon LLC 2006, 2008.
Powered by MinhViet JSC
ralph lauren polo

 
Harald Badinger and Elisabeth Nindl
 
''Sacrifice Ratios, Benefice Ratios, and Globalization: Evidence from a New Set of Estimates''
( 2012, Vol. 32 No.1 )
 
 
This paper revisits the effect of globalization on the output-inflation trade-off, using a new data set of 1114 sacrifice and benefice ratios for a large cross-section of 118 countries over the time period 1966−2007, which is calculated following the approach of Jordan (1997). In line with previous studies our estimates suggest that larger (dis)inflations, effected over a short period, starting from high levels of inflation are associated with smaller sacrifice and benefice ratios. Globalization in terms of financial and trade openness has increased sacrifice and benefice ratios, with financial openness superseding the role of trade openness in importance since the 1990s.
 
 
Keywords: sacrifice ratio, benefice ratio, globalization
JEL: E0 - Macroeconomics and Monetary Economics: General
F0 - International Economics: General
 
Manuscript Received : Nov 26 2011 Manuscript Accepted : Jan 27 2012

  This abstract has been downloaded 201 times                The Full PDF of this paper has been downloaded 87779 times