RUGE-MURCIA, Francisco J. - Département de Sciences Économiques, Université de … - 2009
This paper reports graphical and statistical evidence that the inflation targeting regimes in Canada and the UK - but … tracks the path implied by the inflation target, and the time-series predictions of the "bygones-are-bygones" version of … inflation targeting are rejected by the data in favor of those implied by price-level targeting. These results indicate …