Arrangements and Exchange Restrictions. MATR is an empirical measure of how restrictive official government policy is towards the … international flow of goods and services. MATR is simple, ad hoc, plausible, quantitative, easily updated, based solely on policy …-relevant measures of trade policy, and covers an unbalanced sample of up to 157 countries annually between 1949 and 2019. MATR is …

We study empirically the macroeconomic effects of an explicit de jure quantitative goal for monetary policy … determinants of inflation (such as fiscal policy, the business cycle, and openness to international trade), and the endogeneity of … the monetary policy regime. We find that both having and hitting quantitative targets for monetary policy is …