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]
Introduction 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%.
|Date of creation:||18 Nov 2010|
|Date of revision:||25 Aug 2011|
|Contact details of provider:|| Postal: Ludwigstraße 33, D-80539 Munich, Germany|
Web page: https://mpra.ub.uni-muenchen.de
More information through EDIRC
References listed on IDEAS
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.:
- Martin Melecky & Diego Rodríguez Palenzuela & Ulf Söderström, 2008.
"Inflation Target Transparency and the Macroeconomy,"
Working Papers Central Bank of Chile
490, Central Bank of Chile.
- Martin Melecký & Diego Rodríguez Palenzuela & Ulf Söderström, 2009. "Inflation Target Transparency and the Macroeconomy," Central Banking, Analysis, and Economic Policies Book Series, 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.
- Melecky, Martin & Rodrıguez Palenzuela, Diego & Soderstrom, Ulf, 2008. "Inflation Target Transparency and the Macroeconomy," MPRA Paper 10545, University Library of Munich, Germany.
- Robert Pollin & Andong Zhu, 2006. "Inflation and economic growth: a cross-country nonlinear analysis," Journal of Post Keynesian Economics, M.E. Sharpe, Inc., vol. 28(4), pages 593-614, July.
- George A. Kahn & Klara Parrish, 1998. "Conducting monetary policy with inflation targets," Economic Review, 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, 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.
- Michael Pedersen, 2010. "Una nota introductoria a la encuesta de Expectativas Económicas," Economic Statistics Series 82, Central Bank of Chile.
- 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.
- Marco Vega & Diego Winkelried, 2006. "¿Cambia la Inflación Cuando los Países Adoptan Metas Explícitas de Inflación?," Working Papers 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, vol. 13(2), pages 125-146, August.
- Jose De Gregorio & Eric Parrado, 2006. "Overshooting Meets Inflation Targeting," Working Papers Central Bank of Chile 394, Central Bank of Chile.
When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:37328. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Joachim Winter)
If references are entirely missing, you can add them using this form.