NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Globalization and Disinflation: A Note

Assaf Razin

NBER Working Paper No. 10954
Issued in December 2004
NBER Program(s):International Finance and Macroeconomics

The note analyzes how globalization forces induce monetary authorities, guided in their policies by the welfare criterion of a representative household, to put greater emphasis on reducing the inflation rate than on narrowing the output gaps.

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Document Object Identifier (DOI): 10.3386/w10954

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