TY - JOUR
TI - Inflation targeting and inflation convergence: International evidence
AU - Arestis, P.
AU - Chortareas, G.
AU - Magkonis, G.
AU - Moschos, D.
JO - Journal of International Financial Markets, Institutions and Money
PY - 2014
VL - 31
TODO - 1
SP - 285-295
PB - ELSEVIER BV
SN - 1042-4431
TODO - 10.1016/j.intfin.2014.04.002
TODO - null
TODO - We examine whether the inflation rates of the countries that pursue inflation targeting policies have converged as opposed to the experience of the OECD non-inflation targeters. Using a methodology introduced by Pesaran (2007a), we examine the stationarity properties of the inflation differentials. This approach has the advantage of avoiding setting arbitrarily a specific country as the benchmark economy. Our results indicate that the inflation rates converge irrespective of the monetary policy framework. © 2014 Elsevier B.V.
ER -