Does Inflation Targeting Matter for EMEs?
AbstractThis paper presents an empirical assessment of the performance of EMEs that have adopted inflation targets to conduct monetary policy. In contrast to the evidence previously found for industrial economies, we observe that IT has really mattered for EMEs' price stability. Cross-section and panel estimations consistently suggest that IT has significantly contributed to EMEs' disinflation.
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Bibliographic InfoPaper provided by Escuela de Graduados en Administración Pública y Políticas Públicas, Campus Monterrey in its series Working Papers with number 20061.
Length: 12 pages
Date of creation: Jul 2006
Date of revision: Dec 2006
Inflation; Prices; EME; EMEs;
Find related papers by JEL classification:
- E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
This paper has been announced in the following NEP Reports:
- NEP-ALL-2007-01-28 (All new papers)
- NEP-CBA-2007-01-28 (Central Banking)
- NEP-MAC-2007-01-28 (Macroeconomics)
- NEP-MON-2007-01-28 (Monetary Economics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Manfred J.M. Neumann & Jrgen von Hagen, 2002.
"Does inflation targeting matter?,"
Federal Reserve Bank of St. Louis, issue Jul, pages 127-148.
- Levy-Yeyati, Eduardo & Sturzenegger, Federico, 2005. "Classifying exchange rate regimes: Deeds vs. words," European Economic Review, Elsevier, vol. 49(6), pages 1603-1635, August.
- Andrew T. Levin & Fabio M. Natalucci & Jeremy M. Piger, 2004. "The macroeconomic effects of inflation targeting," Review, Federal Reserve Bank of St. Louis, issue Jul, pages 51-80.
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