Inflation convergence across countries

OECD countries with a history of high inflation before the 1990s were shown to have subsequently experienced a larger degree of disinflation than countries with a history of low inflation. This RBA discussion paper explores further this phenomenon of convergence of inflation rates across countries.

Click here to read the discussion paper "Inflation Convergence Across Countries" on the RBA's web site

They label this process 'regression to the mean', and argue that it explains why those OECD

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