정보통신기술 ( IT ) 이 인플레이션을 낮추었는가 ? : 1990 년대 OECD 국가를 중심으로 = Has the Information Technology Caused to Lower Inflation Rates ? : Some OECD Countries in 1990s

다국어 초록 (Multilingual Abstract)

This paper is to investigate the influence of IT on inflation rates over twenty two OECD countries for 1991∼1998 years. The main empirical findings are as follows. First, this empirical result supports the hypothesis of the IT`s cutting inflation pressures. The higher IT equipped countries (HIT) were turn out to have lower inflationary pressures. According to the estimation, IT has contributed to cut inflation rates by an average of 4∼20% annually. Second, IT has worked differently in two way: IT has reduced inflation pressure via cutting transaction cost but it also raised inflationary pressure via wealth effect. It means that the HIT countries enjoyed cost reduction but they have been faced with inflationary pressure due to AD`s shock. IT can cut inflationary pressure to the somewhat extent but the reduction rate is not proportion to the growth of IT.