Does Competition Enhancement Have Permanent Inflation Effects?
研究了产品市场竞争程度提高是否会导致通胀率永久下降，使用21个OECD国家的数据，发现利润率指标能很好解释通胀差异。
This paper presents evidence that a higher degree of product market competition leads to a permanently lower inflation rate. Among a broad set of possible candidate variables, the indicator for product market competition used in this paper (the markup) is superior in explaining inflation differentials across twenty-one OECD countries and also across the subset of EU member states. This confirms the results by Neiss (2001). Using an index for regulation of competition, it is confirmed that the markup is indeed a good proxy for product market competition.