Arestis, Philip; Caporale, Guglielmo Maria; Cipollini, … - In: Manchester School 70 (2002) 4, pp. 528-45
, Switzerland, Germany, France and the Netherlands). We focus on two possible explanations for the performance of the inflation-targeting …We utilize a stochastic volatility model to analyse the possible effects of inflation targeting on the trade …-off between output gap variability and inflation variability. We find that the adoption of inflation targets (in New Zealand …