Inflation targeting and the cyclicality of monetary policy

John Thornton; Chrysovalantis Vasilakis

doi:10.1016/j.frl.2016.10.012

Inflation targeting and the cyclicality of monetary policy

Ysgol Busnes Albert Gubay

Allbwn ymchwil: Cyfraniad at gyfnodolyn › Erthygl › adolygiad gan gymheiriaid

231 Wedi eu Llwytho i Lawr (Pure)

Crynodeb

We assess whether the adoption of inflation targeting (IT) frameworks has facilitated countercyclical monetary policies in a sample of 90 industrial and developing economies, 22 of which have adopted IT. Using propensity score matching methods, we show that the average treatment effect of IT has a statistically significant and quantitatively quite large effect in facilitating a more countercyclical monetary policy in IT adopting countries.

Iaith wreiddiol	Saesneg
Tudalennau (o-i)	296-302
Cyfnodolyn	Finance Research Letters
Cyfrol	20
Dyddiad ar-lein cynnar	28 Hyd 2016
Dynodwyr Gwrthrych Digidol (DOIs)	https://doi.org/10.1016/j.frl.2016.10.012
Statws	Cyhoeddwyd - Chwef 2017

Mynediad at Ddogfen

10.1016/j.frl.2016.10.012

2017 Inflation targeting and the cyclicality of monetary policy_Revised_FRLsLlawysgrif awdur wedi’i dderbyn, 1.66 MBTrwydded: CC BY-NC-ND

Dyfynnu hyn

@article{65b4c8528fac449c9e1dfeba67e57f7b,

title = "Inflation targeting and the cyclicality of monetary policy",

abstract = "We assess whether the adoption of inflation targeting (IT) frameworks has facilitated countercyclical monetary policies in a sample of 90 industrial and developing economies, 22 of which have adopted IT. Using propensity score matching methods, we show that the average treatment effect of IT has a statistically significant and quantitatively quite large effect in facilitating a more countercyclical monetary policy in IT adopting countries.",

author = "John Thornton and Chrysovalantis Vasilakis",

year = "2017",

month = feb,

doi = "10.1016/j.frl.2016.10.012",

language = "English",

volume = "20",

pages = "296--302",

journal = "Finance Research Letters",

issn = "1544-6123",

publisher = "Elsevier Limited",

}

TY - JOUR

T1 - Inflation targeting and the cyclicality of monetary policy

AU - Thornton, John

AU - Vasilakis, Chrysovalantis

PY - 2017/2

Y1 - 2017/2

N2 - We assess whether the adoption of inflation targeting (IT) frameworks has facilitated countercyclical monetary policies in a sample of 90 industrial and developing economies, 22 of which have adopted IT. Using propensity score matching methods, we show that the average treatment effect of IT has a statistically significant and quantitatively quite large effect in facilitating a more countercyclical monetary policy in IT adopting countries.

AB - We assess whether the adoption of inflation targeting (IT) frameworks has facilitated countercyclical monetary policies in a sample of 90 industrial and developing economies, 22 of which have adopted IT. Using propensity score matching methods, we show that the average treatment effect of IT has a statistically significant and quantitatively quite large effect in facilitating a more countercyclical monetary policy in IT adopting countries.

U2 - 10.1016/j.frl.2016.10.012

DO - 10.1016/j.frl.2016.10.012

M3 - Article

SN - 1544-6123

VL - 20

SP - 296

EP - 302

JO - Finance Research Letters

JF - Finance Research Letters

ER -

Inflation targeting and the cyclicality of monetary policy

Crynodeb

Mynediad at Ddogfen

Ôl bys

Dyfynnu hyn