Adopción de metas de inflación y su impacto en las expectativas de inflación y volatilidad del crecimiento económico: evidencia empírica para Bolivia
[Inflation targeting and its impact on the inflation expectations and economic growth volatility: an empirical assessment for Bolivia]
AbstractIntroduction of inflation targeting has global effects on dynamic of prices and economic growth. In case of a developing country with an increasing remonetization since 2007 – 2008 and modest growing later than 2009 it’s important to assess the adoption of a new regime and how it helps to both control inflation dynamics and expectations; and how it stabilize the business cycle of economic growth. In order to assess inflation targeting we use the methodology applied by Vega and Winkelried (2006). Results have shown that in case of the Bolivian economy the adoption of the regime is significant. In this sense, implementation of inflation targeting reduces monthly inflation expectations, -7.33% and its structural component in -1.02%. At the same time, the variance of output reduces -1.2%.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 37328.
Date of creation: 18 Nov 2010
Date of revision: 25 Aug 2011
Inflation targeting; propensity score; economic growth;
Find related papers by JEL classification:
- E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
- E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
- C52 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Evaluation, Validation, and Selection
- E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
This paper has been announced in the following NEP Reports:
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.:
- Melecky, Martin & Rodrıguez Palenzuela, Diego & Soderstrom, Ulf, 2008.
"Inflation Target Transparency and the Macroeconomy,"
10545, University Library of Munich, Germany.
- Martin Melecký & Diego Rodríguez Palenzuela & Ulf Söderström, 2009. "Inflation Target Transparency and the Macroeconomy," Central Banking, Analysis, and Economic Policies Book Series, Central Bank of Chile, in: Klaus Schmidt-Hebbel & Carl E. Walsh & Norman Loayza (Series Editor) & Klaus Schmidt-Hebbel (Series (ed.), Monetary Policy under Uncertainty and Learning, edition 1, volume 13, chapter 10, pages 371-411 Central Bank of Chile.
- Martin Melecky & Diego Rodríguez Palenzuela & Ulf Söderström, 2008. "Inflation Target Transparency and the Macroeconomy," Working Papers Central Bank of Chile, Central Bank of Chile 490, Central Bank of Chile.
- Michael Pedersen, 2010. "Una nota introductoria a la encuesta de Expectativas Económicas," Economic Statistics Series, Central Bank of Chile 82, Central Bank of Chile.
- George A. Kahn & Klara Parrish, 1998. "Conducting monetary policy with inflation targets," Economic Review, Federal Reserve Bank of Kansas City, Federal Reserve Bank of Kansas City, issue Q III, pages 5-32.
- Arjun Jayadev, 2008.
"The class content of preferences towards anti-inflation and anti-unemployment policies,"
International Review of Applied Economics, Taylor & Francis Journals,
Taylor & Francis Journals, vol. 22(2), pages 161-172.
- Arjun Jayadev, . "The Class Content of Preferences Towards Anti-Inflation and Anti Unemployment Policies," Working Papers 8, University of Massachusetts Boston, Economics Department.
- Marco Vega & Diego Winkelried, 2006. "¿Cambia la Inflación Cuando los Países Adoptan Metas Explícitas de Inflación?," Working Papers, Banco Central de Reserva del PerÃº 2006-001, Banco Central de Reserva del Perú.
- Schmidt-Hebbel, Klaus & Tapia, Matias, 2002. "Inflation targeting in Chile," The North American Journal of Economics and Finance, Elsevier, Elsevier, vol. 13(2), pages 125-146, August.
- Guy Debelle & Miguel A. Savastano & Paul R. Masson & Sunil Sharma, 1998. "Inflation Targeting as a Framework for Monetary Policy," IMF Economic Issues 15, International Monetary Fund.
- Robert Pollin & Andong Zhu, 2006. "Inflation and economic growth: a cross-country nonlinear analysis," Journal of Post Keynesian Economics, M.E. Sharpe, Inc., M.E. Sharpe, Inc., vol. 28(4), pages 593-614, July.
- Jose De Gregorio & Eric Parrado, 2006. "Overshooting Meets Inflation Targeting," Working Papers Central Bank of Chile, Central Bank of Chile 394, Central Bank of Chile.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Ekkehart Schlicht).
If references are entirely missing, you can add them using this form.