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We evaluate the treatment effect of inflation targeting in seven industrial countries that adopted this policy in the 1990s. To address the self-selection problem of policy adoption, we make use of a variety of propensity score matching methods recently developed in the treatment effect...
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central bank balance sheets. We analyze the experience in seven advanced economies (Australia, Canada, Euro area, New Zealand …, Sweden, UK and US)--documenting different strategies and the substantive reduction in central bank balance sheets that has …
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We use a variety of nonparametric test statistics to evaluate the inflation- targeting regimes of Australia, Canada …, New Zealand, Sweden and the UK. We argue that a sensible approach of evaluation must rely on a variety of methods, among …
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