Inoue, Takeshi; Toyoshima, Yuki; Hamori, Shigeyuki - Institute of Developing Economies, Japan External Trade … - 2012
This paper empirically analyzes whether and to what extent the adoption of inflation targeting (IT) in Korea, Indonesia, Thailand and the Philippines has affected their business cycle synchronization with the rest of the world. By employing the dynamic conditional correlation (DCC) model...