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Applied Economics Letters

Volume 15, Issue 13, 2008

Measuring inflation targeting's impact on the macroeconomy

Measuring inflation targeting's impact on the macroeconomy

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DOI:
10.1080/13504850600972410
José R. Sánchez-Funga*

pages 1027-1035

Available online: 23 Oct 2008
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Abstract

This article analyses inflation targeting's (IT) impact on key macroeconomic variables in Australia, Canada, Chile, Colombia, Israel, Korea, Mexico, New Zealand, Sweden and the United Kingdom in the spirit of Mishkin and Posen (19976. Mishkin , F. and Posen , A. 1997 . Inflation targeting: lessons from four countries . Economic Policy Review , 3 : 9 – 110 .

View all references). Across this sample, inflation and interest rates predicted from parsimonious, automatically reduced VARs consistently overestimate those observed following IT adoption.

 

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  • Citation information:
  • Available online: 23 Oct 2008

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Author affiliations

  • a Kingston University, London, UK

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