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
| Original language | English |
|---|---|
| Pages (from-to) | 2495-2507 |
| Number of pages | 13 |
| Journal | Economics Bulletin |
| Volume | 41 |
| Issue number | 4 |
| Publication status | Published - 2021 |
ASJC Scopus subject areas
- Economics, Econometrics and Finance(all)