Quantifying the Causal Effect of Inflation Targets
AbstractThis paper seeks to evaluate the benefit that the regime of inflation targeting brought in the nineties. The paper concentrates in measuring, through matching estimators, to what extent can the process of inflationary deceleration of the period be attributed exclusively to this scheme. Results show that countries that adopted inflation targets saw their level of inflation reduced by between zero and 3%, depending on the sub-period considered.
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Bibliographic InfoPaper provided by Central Bank of Chile in its series Working Papers Central Bank of Chile with number 337.
Date of creation: Dec 2005
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