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.
|Number of pages
|Published - 2021
ASJC Scopus subject areas
- Economics, Econometrics and Finance(all)