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Individualism and Inflation

Author

Listed:
  • Fahim Al Marhubi

    (Sultan Qaboos University)

Abstract

This paper examines the relationship between the individualism-collectivism dimension of culture and inflation for 100 countries from 1972 to 2011. The results indicate that individualism has a strong causal negative effect on inflation. Individualism also strengthens the effectiveness of central bank independence in promoting low inflation. These findings are robust to estimation methods, sample composition, measures of individualism and inclusion of controls.

Suggested Citation

  • Fahim Al Marhubi, 2021. "Individualism and Inflation," Economics Bulletin, AccessEcon, vol. 41(4), pages 2495-2507.
    • Handle: RePEc:ebl:ecbull:eb-21-00528
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    File URL: http://www.accessecon.com/Pubs/EB/2021/Volume41/EB-21-V41-I4-P215.pdf
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    More about this item

    Keywords

    Culture; Individualism; inflation;
    All these keywords.

    JEL classification:

    • E3 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles
    • Z1 - Other Special Topics - - Cultural Economics

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