Anderl, Christina; Caporale, Guglielmo Maria - 2021
January 1993 to December 2020 for five inflation-targeting countries (the UK, Canada, Australia, New Zealand and Sweden) and … three non-targeting ones (the US, the Euro-Area and Switzerland). Both a benchmark linear VECM and a nonlinear Threshold … targeting tends to generate a higher degree of credibility for the monetary authorities thereby reducing deviations of the …