Trade Openness and Inflation Dynamics: A Panel Data Analysis

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dc.contributor.authorParsi, Rouzbeh
dc.contributor.supervisorGabriel, Vasco
dc.date.accessioned2024-01-31T17:26:57Z
dc.date.available2024-01-31T17:26:57Z
dc.date.copyright2024en_US
dc.date.issued2024-01-31
dc.degree.departmentDepartment of Economicsen_US
dc.degree.levelMaster of Applied Science M.A.Sc.en_US
dc.description.abstractThis thesis focuses on the intricate empirical relationship between trade openness and inflation, challenging previous literature that suggests a straightforward negative correlation between the two. By employing recently developed dynamic heterogeneous panel methods and constructing a comprehensive panel dataset, which encompasses a spectrum of economic, political, and financial indicators, as well as two proxies for openness, we offer a nuanced perspective on the topic. Central to our findings is the critical role of allowing cross-sectional dependence in panel data, which has been frequently overlooked in past studies. Our analysis reveals a multifaceted relationship, where the influence of trade openness on inflation is dynamic and ambiguous in its direction. While traditional openness metrics remain useful, multidimensional proxies, such as the KOF trade openness index, have the potential to provide richer insights. Our results underscore the need for a thorough analysis and robust methodologies when exploring this economic relationship, suggesting that the dynamics of trade and inflation are more complex than previously assumed.en_US
dc.description.scholarlevelGraduateen_US
dc.identifier.urihttp://hdl.handle.net/1828/15915
dc.languageEnglisheng
dc.language.isoenen_US
dc.rightsAvailable to the World Wide Weben_US
dc.subjectInflationen_US
dc.subjectCross-section dependenceen_US
dc.subjectTrade Opennessen_US
dc.subjectDynamic Common Correlated Effectsen_US
dc.titleTrade Openness and Inflation Dynamics: A Panel Data Analysisen_US
dc.typeThesisen_US

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