Τίτλος:
Inflation targeting and inflation convergence: International evidence
Γλώσσες Τεκμηρίου:
Αγγλικά
Περίληψη:
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.
Συγγραφείς:
Arestis, P.
Chortareas, G.
Magkonis, G.
Moschos, D.
Περιοδικό:
Journal of International Financial Markets, Institutions and Money
DOI:
10.1016/j.intfin.2014.04.002
