Do preferences shape institutions? The case of inflation aversion and inflation targeting

We show that preferences, estimated with subjective measures of individual well-being, help to explain the adoption of certain types of institutions. In particular, we show that countries exhibiting greater inflation aversion are more likely to adopt the inflation targeting monetary regime.

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Year of publication:	2014
Authors:	De Roux, Nicolás ; Hofstetter, Marc
Published in:	Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics). - Elsevier, ISSN 2214-8043. - Vol. 51.2014, C, p. 68-78
Publisher:	Elsevier
Subject:	Subjective well being \| Preferences \| Inflation targeting \| Monetary regimes

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Type of publication:	Article
Classification:	D02 - Institutions: Design, Formation, and Operations ; D70 - Analysis of Collective Decision-Making. General ; E02 - Institutions and the Macroeconomy ; E52 - Monetary Policy (Targets, Instruments, and Effects) ; E58 - Central Banks and Their Policies ; E61 - Policy Objectives; Policy Designs and Consistency; Policy Coordination
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10011261634