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international dimension, as higher world inflation is positively correlated with inflation targets. Rapidly growing countries … macroeconomic environment. We find that central bank credibility is negatively associated with the level of inflation target … targeting ; central bank ; inflation ; credibility ; independence …
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We study the characteristics of inflation targeting as a shock absorber, using quarterly data for a large panel of countries. To overcome an endogeneity problem between monetary regimes and the likelihood of crises, we propose to study large natural disasters. We find that inflation targeting...
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design of fiscal and monetary policy in emerging markets where sovereign credibility is not well established. Recent debt …
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