Inflation Targeting: An international comparison of policy determinacy

This paper explores inflation targeting policy determinacy across sixteen economies explicitly following such rule. I find that these countries do not necessarily manage their monetary policy in a way that leads to determinacy, which is desirable from a welfare perspective. Data coming from developi...

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Autor principal: Yellati, Hernán M.
Otros Autores: Sola, Martin
Formato: Tesis de maestría acceptedVersion
Lenguaje:Inglés
Publicado: Universidad Torcuato Di Tella 2023
Materias:
Inflation
Inflación
politica economica
Economic Policy
Inflation Targeting
Acceso en línea:https://repositorio.utdt.edu/handle/20.500.13098/11767
Aporte de:
Repositorio Digital Universidad Torcuato Di Tella de Universidad Torcuato Di Tella
id I57-R163-20.500.13098-11767
record_format dspace
institution Universidad Torcuato Di Tella
institution_str I-57
repository_str R-163
collection Repositorio Digital Universidad Torcuato Di Tella
language Inglés
orig_language_str_mv eng
topic Inflation
Inflación
politica economica
Economic Policy
Inflation Targeting
spellingShingle Inflation
Inflación
politica economica
Economic Policy
Inflation Targeting
Yellati, Hernán M.
Inflation Targeting: An international comparison of policy determinacy
topic_facet Inflation
Inflación
politica economica
Economic Policy
Inflation Targeting
description This paper explores inflation targeting policy determinacy across sixteen economies explicitly following such rule. I find that these countries do not necessarily manage their monetary policy in a way that leads to determinacy, which is desirable from a welfare perspective. Data coming from developing economies tend to be less consistent with determinacy immediately after inflation targeting implementation, only increasing its "activeness" later in the period under scrutiny. Contrarily, developed economies tend to show a strong tendency towards determinacy in the first stage of inflation targeting implementation while showing an indeterminate solution after the target is achieved. I suggest a link between economic development and monetary policy effectiveness, which in turn is related with credibility.
author2 Sola, Martin
author_facet Sola, Martin
Yellati, Hernán M.
format Tesis de maestría
Tesis de maestría
acceptedVersion
author Yellati, Hernán M.
author_sort Yellati, Hernán M.
title Inflation Targeting: An international comparison of policy determinacy
title_short Inflation Targeting: An international comparison of policy determinacy
title_full Inflation Targeting: An international comparison of policy determinacy
title_fullStr Inflation Targeting: An international comparison of policy determinacy
title_full_unstemmed Inflation Targeting: An international comparison of policy determinacy
title_sort inflation targeting: an international comparison of policy determinacy
publisher Universidad Torcuato Di Tella
publishDate 2023
url https://repositorio.utdt.edu/handle/20.500.13098/11767
work_keys_str_mv AT yellatihernanm inflationtargetinganinternationalcomparisonofpolicydeterminacy
bdutipo_str Repositorios
_version_ 1764820542824644609

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