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Inflation Targeting and Macroeconomic Stabilization

Author

Listed:
  • Mehdi Monadjemi
  • John Lodewijks

Abstract

Inflation targeting has been a key objective of the European Monetary Union. This article presents empirical evidence indicating that this macroeconomic objective has been successfully achieved. However, despite expectations that inflation control would provide the foundation for robust and healthy growing economies, other important macroeconomic outcomes have not been achieved. This suggests that inflation targeting is not a sufficient condition for macroeconomic stabilization.

Suggested Citation

  • Mehdi Monadjemi & John Lodewijks, 2014. "Inflation Targeting and Macroeconomic Stabilization," Research in World Economy, Research in World Economy, Sciedu Press, vol. 5(2), pages 93-98, September.
  • Handle: RePEc:jfr:rwe111:v:5:y:2014:i:2:p:93-98
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    File URL: http://www.sciedu.ca/journal/index.php/rwe/article/view/5353/3131
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    File URL: http://www.sciedu.ca/journal/index.php/rwe/article/view/5353
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    References listed on IDEAS

    as
    1. Alberto Alesina & Robert J. Barro, 2002. "Currency Unions," The Quarterly Journal of Economics, Oxford University Press, vol. 117(2), pages 409-436.
    2. Hodrick, Robert J & Prescott, Edward C, 1997. "Postwar U.S. Business Cycles: An Empirical Investigation," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 29(1), pages 1-16, February.
    3. Robert Barro & Silvana Tenreyro, 2007. "Economic Effects Of Currency Unions," Economic Inquiry, Western Economic Association International, vol. 45(1), pages 1-23, January.
    4. Paul Krugman, 1995. "Currencies and Crises," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262611090, March.
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