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Has inflation targeting been successful? : evidence from unit root tests
Turkay, Mesut; Sencer Atasoy, Burak - In: Investigación económica : revista de la Faculdad de … 78 (2019) 308, pp. 120-139
The popularity of inflation targeting has risen in the last decade and the number of countries that adopted inflation … targeting as their monetary policy framework surpassed 40 by the end of 2016. This study analyzes whether inflation targeting … around the world has been successful in terms of achieving the announced target and keeping inflation rate around it. We …
Persistent link: https://www.econbiz.de/10012016727
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The possible unemployment cost of average inflation below a credible target : a replication study of Svensson (American Economic Journal: Macroeconomics, 2015)
Oraby, Ramy - In: Journal of comments and replications in economics 1 (2022), pp. 1-21
long run Phillips curve recorded -0.75 in Sweden and -0.23 in the United States. While the average inflation rate in the … United States was very close to its targeted level, the average inflation rate in Sweden was 0.6 per- centage points below … its targeted level over the sample period. The deviation of inflation rate from its targeted level in Sweden resulted in …
Persistent link: https://www.econbiz.de/10013179358
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Does Social Trust Speed up Reforms? The Case of Central-Bank Independence
Berggren, Niclas; Daunfelt, Sven-Olof; Hellström, Jörgen - Institutet för Näringslivsforskning (IFN) - 2015
Many countries have undertaken central-bank independence reforms, but the years of implementation differ. What explains such differences in timing? This is of interest more broadly, as it sheds light on factors that matter for the speed at which economic reforms come about. We study a rich set...
Persistent link: https://www.econbiz.de/10011115518
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Does Social Trust Speed Up Reforms? The case of Central Bank Independence
Bergren, Niclas; Daunfeldt, Sven-Olov; Hellström, Jörgen - Handelns Utredningsinstitut (HUI Research) - 2014
Many countries have undertaken central-bank independence reforms, but the years of implementation differ. What explains such differences in timing? This is of interest more broadly, as it sheds light on factors that matter for the speed at which economic reforms come about. We study a rich set...
Persistent link: https://www.econbiz.de/10011103291
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Uncertainty about perceived inflation target and monetary policy
Aoki, Kosuke; Kimura, Takeshi - 2007
We analyse the interaction between private agents? uncertainty about inflation target and the central bank's data … uncertainty. In our model, private agents update their perceived inflation target and the central bank estimates unobservable … economic shocks as well as the perceived inflation target. Under those two uncertainties, the learning process of both private …
Persistent link: https://www.econbiz.de/10010295855
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Social trust and central-bank independence
Berggren, Niclas; Daunfeldt, Sven-Olov; Hellström, Jörgen - In: European Journal of Political Economy 34 (2014) C, pp. 425-439
Central banks have become more independent in many countries. A common rationale has been the existence of a credibility (or lack-of-trust) problem for monetary policy. This indicates a possible and until now unexplored link between social trust and central-bank independence. Our empirical...
Persistent link: https://www.econbiz.de/10011056298
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Monetary policy committee transparency: Measurement, determinants, and economic effects
Hayo, Bernd; Mazhar, Ummad - 2011
inflation, quality of institutional setup, and extent of Internet use in a country are important determinants of MPCT. MPCT has … a robust and significantly negative impact on inflation variability, even after controlling for important macroeconomic …
Persistent link: https://www.econbiz.de/10010286350
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The Possible Unemployment Cost of Average Inflation Below a Credible Target. A Replication Study of Svensson (American Economic Journal: Macroeconomics, 2015)
Oraby, Ramy - In: Journal of Comments and Replications in Economics (JCRE) 1 (2022) 2022-2, pp. 1-21
long run Phillips curve recorded -0.75 in Sweden and -0.23 in the United States. While the average inflation rate in the … United States was very close to its targeted level, the average inflation rate in Sweden was 0.6 per- centage points below … its targeted level over the sample period. The deviation of inflation rate from its targeted level in Sweden resulted in …
Persistent link: https://www.econbiz.de/10013190400
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Does Social Trust Speed up Reforms? The Case of Central-Bank Independence
Berggren, Niclas; Daunfeldt, Sven-Olov; Hellström, Jörgen - 2015
Many countries have undertaken central-bank independence reforms, but the years of implementation differ. What explains such differences in timing? This is of interest more broadly, as it sheds light on factors that matter for the speed at which economic reforms come about. We study a rich set...
Persistent link: https://www.econbiz.de/10010504481
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Küreselleşme ve Enflasyon: Küresel Çıktı Açığı Hipotezi-Türkiye Örneği
Eren, Ercan; Çiçek, Serkan - İktisat Bölümü, İktisadi ve İdari Bilimler Fakültesi - 2009
The aim of paper to search whether there is a change in relationship between inflation rate and domestic economic … inflation rate -especially on traded goods inflation rate. özet Çalışmanın amacı Türkiye’de enflasyon oranı ile yurtiçi ekonomik …
Persistent link: https://www.econbiz.de/10005078875