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|Other Titles: ||A Study on Global Inflation|
|Issue Date: ||2016-09-30 10:29:01 (UTC+8)|
The integration of international markets is a subect which is very closely related to economic theory and thereby economic policy. At present, the preponderance of models of economic behavior as well as economic policies adhere to the assumption that individual countries'markets are principally independent of each other.The purpose of this paper is simply to look at some of the implications of international market integration and to compare those implications with some of the data at hand. This paper is specifically to analyze the degree of integration among countries according to two specific parameters (1) the specific commodity's market scope and (2) the time interval involved.The concept of market integration can have several different meanings within a macro economic framework. The first sense of integration is quantity integration. The second is the extent to which price data among countries are similar.This paper herewith includes four sections: (1) harmonic movement among quantity aggregates; (2) net flows of resources and economic inte-gration; (3) monetary aggregates and interest rates; (4) prices and economic integration.In each section a sampling of data and research is surveyed in order to develop some sense of the degree to which markets are integrated. The overall results strongly support the integration hypothesis. In all, in-flation is a one market world phenomenon and will differ among countries to the extent of changes in their exchange rates.
|Relation: ||國立政治大學學報, 43, 17-44|
|Data Type: ||article|
|Appears in Collections:||[Issue 43] Journal Article|
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