BALIMA, Weneyam Hippolyte; COMBES, Jean-Louis; MINEA, … - Centre d'Études et de Recherches sur le Développement … - 2015
Based on a sample of 38 emerging countries, we find that inflation targeting (IT) adoption improves sovereign debt risk. However, we show that IT adoption effectiveness is sensitive to several structural characteristics, such as the phase of the business cycle, the fiscal stance, and the level...