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Does Inflation Targeting Matter? A Reassessment

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Author Info
Luke B. Willard (Princeton University)
Abstract

This paper uses a number of identification approaches (using instrumental variables, assumptions about heteroscedasticity and panel fixed effects) to estimate the effect of inflation targeting on inflation. Generally, it finds the effect is small and insignificant.

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File URL: http://www.princeton.edu/~ceps/workingpapers/120willard.pdf
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Publisher Info
Paper provided by Princeton University, Department of Economics, Center for Economic Policy Studies. in its series Working Papers with number 82.

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Date of creation: Feb 2006
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Handle: RePEc:pri:cepsud:82

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Related research
Keywords: Inflation; Monetary policy;

Find related papers by JEL classification:
E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy

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  1. Jan Libich & Andrew Hughes Hallett & Petr Stehlik, 2007. "Monetary And Fiscal Policy Interaction With Various Degrees And Types Of Commitment," CAMA Working Papers 2007-21, Australian National University, Centre for Applied Macroeconomic Analysis. [Downloadable!]
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