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Does the exchange rate regime make a difference in inflation performance in developing and emerging countries?: The role of inflation targeting

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  • Yamada, Hiroyuki

Abstract

We apply propensity score matching estimators with multiple outcomes to evaluate the impacts of exchange rate regimes (fixed, intermediate, and flexible without inflation targeting) and inflation targeting on inflation rates in emerging and developing countries. An inflation-targeting regime does better than or at least as good work as a fixed regime in lowering inflation rates when compared with intermediate or flexible regimes. We do not observe a clear difference in inflation rates between fixed and inflation-targeting regimes in recent years (2000–2007). Intermediate and flexible regimes provide higher inflation than fixed or inflation-targeting regimes in most cases.

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Bibliographic Info

Article provided by Elsevier in its journal Journal of International Money and Finance.

Volume (Year): 32 (2013)
Issue (Month): C ()
Pages: 968-989

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Handle: RePEc:eee:jimfin:v:32:y:2013:i:c:p:968-989

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Web page: http://www.elsevier.com/locate/inca/30443

Related research

Keywords: Inflation; Exchange rate regime; Inflation targeting;

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Cited by:
  1. Pierre-Richard Agénor & Luiz A. Pereira da Silva, 2013. "Inflation Targeting and Financial Stability: A Perspective from the Developing World," Working Papers Series 324, Central Bank of Brazil, Research Department.
  2. Sánchez, Elmer, 2013. "Grado de inversión y flujos de inversión directa extranjera a economías emergentes," Revista Estudios Económicos, Banco Central de Reserva del Perú, issue 26, pages 61-79.
  3. Hiroyuki Yamada & Gerwin Bell, 2012. "Why Did Southeastern European Countries Experience Low Inflation Rates in the Beginning of This Century?," European Journal of Comparative Economics, Cattaneo University (LIUC), vol. 9(2), pages 229-246, August.

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