Inflation Targeting Matters
Evidence from OECD Economies' Sacrifice Ratios
Bibliographic Data
| ID | 19054080 |
|---|---|
| Authors | CARLOS EDUARDO SOARES GONÇALVES (corresponding author), Alexandre Carvalho (0000-0001-5683-3181, corresponding author) |
| Year | 2009 |
| Volume | 41 |
| Issue | 1 |
| Pages | 233-243 |
| Publication date | 2009-01-22 |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Journal of money credit and banking (JOURNAL) |
| Journal identifiers | ISSN: 0022-2879 • E-ISSN: 1538-4616 |
| Publisher | Wiley (PUBLISHER • GB) |
| DOI | 10.1111/j.1538-4616.2008.00195.x |
| OpenAlex | W3123910842 |
| Language | EN |
| Citations received | 2 |
| References cited | 7 |
Using data from OECD economies, we show that inflation targeters suffered smaller output losses during disinflations when compared to nontargeters. We also study why some countries choose to inflation target while others do not and find that higher average inflation and smaller debt levels render the adoption of the regime more likely. Applying Heckman's procedure to control for selection bias does not alter the link between inflation targeting and less costly disinflations
Debt · Economics · Inflation targeting · Macroeconomics · Monetary economics · Monetary policy · Real interest rate · Fiscal Policies and Political Economy · Global Financial Crisis and Policies · Monetary Policy and Economic Impact
| Citations per year | 0.12 |
|---|---|
| Citation span | 2009 - 2025 (17) |
| Highly cited | No |