메뉴 건너뛰기




Volumn 98, Issue 2, 2012, Pages 178-191

Is inflation targeting a good remedy to control inflation?

Author keywords

Credibility; Inflation targeting; Propensity score matching

Indexed keywords

CENTRAL BANK; ECONOMIC DEVELOPMENT; EMPIRICAL ANALYSIS; INFLATION; MONETARY POLICY;

EID: 84859974477     PISSN: 03043878     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.jdeveco.2011.06.011     Document Type: Article
Times cited : (108)

References (62)
  • 3
    • 85129712964 scopus 로고    scopus 로고
    • Estimation of average treatment effects based on propensity scores
    • Becker S.O., Ichino A. Estimation of average treatment effects based on propensity scores. Stata Journal 2002, 2(4):358-377.
    • (2002) Stata Journal , vol.2 , Issue.4 , pp. 358-377
    • Becker, S.O.1    Ichino, A.2
  • 4
    • 0042585965 scopus 로고    scopus 로고
    • Inflation targeting: a new framework for monetary policy
    • January
    • Bernanke B.S., Mishkin F.S. Inflation targeting: a new framework for monetary policy. NBER Working Paper 1997, 5893. January.
    • (1997) NBER Working Paper , vol.5893
    • Bernanke, B.S.1    Mishkin, F.S.2
  • 8
    • 0002373493 scopus 로고
    • The monetary dynamics of hyperinflation
    • University of Chicago Press, Chicago, F. Milton (Ed.)
    • Cagan P. The monetary dynamics of hyperinflation. Studies in the Quantity Theory of Money 1956, 25-117. University of Chicago Press, Chicago. F. Milton (Ed.).
    • (1956) Studies in the Quantity Theory of Money , pp. 25-117
    • Cagan, P.1
  • 9
    • 31344481078 scopus 로고    scopus 로고
    • Central bank structure, policy efficiency and macroeconomic performance: exploring empirical relationships
    • Cecchetti S.G., Krause S. Central bank structure, policy efficiency and macroeconomic performance: exploring empirical relationships. Federal Reserve Bank of St. Louis Review, July-August 2002, 47-59.
    • (2002) Federal Reserve Bank of St. Louis Review, July-August , pp. 47-59
    • Cecchetti, S.G.1    Krause, S.2
  • 10
    • 84860015654 scopus 로고    scopus 로고
    • New inflation-targeting countries
    • Central Bank of Iceland
    • Central Bank of Iceland New inflation-targeting countries. Monetary Bulletin 2007, 9(2):44-47.
    • (2007) Monetary Bulletin , vol.9 , Issue.2 , pp. 44-47
  • 12
    • 0000769846 scopus 로고
    • Measuring the independence of central banks and its effects on policy outcomes
    • Cukierman A., Webb S., Neyapti B. Measuring the independence of central banks and its effects on policy outcomes. World Bank Economic Review 1992, 6(3):353-398.
    • (1992) World Bank Economic Review , vol.6 , Issue.3 , pp. 353-398
    • Cukierman, A.1    Webb, S.2    Neyapti, B.3
  • 13
    • 34250875173 scopus 로고    scopus 로고
    • Empirical evidence from fourteen countries with explicit inflation targeting
    • de Mendonça H.F. Empirical evidence from fourteen countries with explicit inflation targeting. Applied Economics Letters 2007, 14(8):573-576.
    • (2007) Applied Economics Letters , vol.14 , Issue.8 , pp. 573-576
    • de Mendonça, H.F.1
  • 14
    • 36048972556 scopus 로고    scopus 로고
    • Towards credibility from inflation targeting: the Brazilian experience
    • de Mendonça H.F. Towards credibility from inflation targeting: the Brazilian experience. Applied Economics 2007, 39(20):2599-2615.
    • (2007) Applied Economics , vol.39 , Issue.20 , pp. 2599-2615
    • de Mendonça, H.F.1
  • 15
    • 70049084534 scopus 로고    scopus 로고
    • Inflation targeting credibility and reputation: the consequences for the interest rate
    • November
    • de Mendonça H.F., de Guimarães e Souza G.J. Inflation targeting credibility and reputation: the consequences for the interest rate. Economic Modelling 2009, 26(6):1228-1238. November.
    • (2009) Economic Modelling , vol.26 , Issue.6 , pp. 1228-1238
    • de Mendonça, H.F.1    de Guimarães e Souza, G.J.2
  • 16
    • 36148932137 scopus 로고    scopus 로고
    • Economic transparency and effectiveness of monetary policy
    • de Mendonça H.F., Simão Filho J. Economic transparency and effectiveness of monetary policy. Journal of Economic Studies 2007, 34(6):497-514.
    • (2007) Journal of Economic Studies , vol.34 , Issue.6 , pp. 497-514
    • de Mendonça, H.F.1    Simão Filho, J.2
  • 17
    • 0036102924 scopus 로고    scopus 로고
    • Propensity score-matching methods for nonexperimental causal studies
    • Dehejia R.H., Wahba S. Propensity score-matching methods for nonexperimental causal studies. Review of Economics and Statistics 2002, 84(1):151-161.
    • (2002) Review of Economics and Statistics , vol.84 , Issue.1 , pp. 151-161
    • Dehejia, R.H.1    Wahba, S.2
  • 21
    • 32144439185 scopus 로고    scopus 로고
    • How do central banks write? An evaluation of inflation targeting central banks
    • Centre for Economic Policy Research, London
    • Fracasso A., Genberg H., Wyplosz C. How do central banks write? An evaluation of inflation targeting central banks. Geneva Reports on the World Economy Special Report 2 2003, Centre for Economic Policy Research, London.
    • (2003) Geneva Reports on the World Economy Special Report 2
    • Fracasso, A.1    Genberg, H.2    Wyplosz, C.3
  • 24
    • 35748978186 scopus 로고    scopus 로고
    • Inflation targeting in emerging economies: what do the data say
    • Gonçalves C.E.S., Salles J.M. Inflation targeting in emerging economies: what do the data say. Journal of Development Economics 2008, 85(1-2):312-318.
    • (2008) Journal of Development Economics , vol.85 , Issue.1-2 , pp. 312-318
    • Gonçalves, C.E.S.1    Salles, J.M.2
  • 26
    • 0036792334 scopus 로고    scopus 로고
    • Capital account liberalization and inflation
    • Gruben W., McLeod D. Capital account liberalization and inflation. Economics Letters 2002, 77(2):221-225.
    • (2002) Economics Letters , vol.77 , Issue.2 , pp. 221-225
    • Gruben, W.1    McLeod, D.2
  • 27
    • 33645513293 scopus 로고    scopus 로고
    • The choice of inflation targeting: an empirical investigation
    • Hu Y. The choice of inflation targeting: an empirical investigation. International Economics and Economic Policy 2006, 3(1):27-42.
    • (2006) International Economics and Economic Policy , vol.3 , Issue.1 , pp. 27-42
    • Hu, Y.1
  • 28
    • 84916907918 scopus 로고    scopus 로고
    • Exchange rate arrangements entering the 21st century: which anchor will hold?
    • Ilzetzki E., Reinhart C.M., Rogoff K. Exchange rate arrangements entering the 21st century: which anchor will hold?. Working Paper 2008.
    • (2008) Working Paper
    • Ilzetzki, E.1    Reinhart, C.M.2    Rogoff, K.3
  • 29
    • 0000724291 scopus 로고    scopus 로고
    • The role of propensity score in estimating dose-response functions
    • Imbens G.W. The role of propensity score in estimating dose-response functions. Biometrika 2000, 87(3):706-710.
    • (2000) Biometrika , vol.87 , Issue.3 , pp. 706-710
    • Imbens, G.W.1
  • 30
    • 0036847295 scopus 로고    scopus 로고
    • The effect of inflation targeting on the behavior of expected inflation: evidence from an 11 country panel
    • Johnson D.R. The effect of inflation targeting on the behavior of expected inflation: evidence from an 11 country panel. Journal of Monetary Economics 2002, 49(8):1521-1538.
    • (2002) Journal of Monetary Economics , vol.49 , Issue.8 , pp. 1521-1538
    • Johnson, D.R.1
  • 34
    • 36048995969 scopus 로고    scopus 로고
    • Does inflation targeting really make a difference? Evaluating the treatment effect of inflation targeting in seven industrial countries
    • Lin S., Ye H. Does inflation targeting really make a difference? Evaluating the treatment effect of inflation targeting in seven industrial countries. Journal of Monetary Economics 2007, 54(8):2521-2533.
    • (2007) Journal of Monetary Economics , vol.54 , Issue.8 , pp. 2521-2533
    • Lin, S.1    Ye, H.2
  • 36
    • 0033148105 scopus 로고    scopus 로고
    • International experiences with different monetary policy regimes
    • Mishkin F.S. International experiences with different monetary policy regimes. Journal of Monetary Economics 1999, 43(3):576-606.
    • (1999) Journal of Monetary Economics , vol.43 , Issue.3 , pp. 576-606
    • Mishkin, F.S.1
  • 37
    • 0011842530 scopus 로고    scopus 로고
    • Can inflation targeting work in emerging market countries?
    • Mishkin F.S. Can inflation targeting work in emerging market countries?. Working Paper 2004, 10646.
    • (2004) Working Paper , pp. 10646
    • Mishkin, F.S.1
  • 39
    • 38349000569 scopus 로고    scopus 로고
    • Does inflation targeting make a difference?
    • January
    • Mishkin F.S., Schmidt-Hebbel K. Does inflation targeting make a difference?. NBER Working Paper 2007, 12876. January.
    • (2007) NBER Working Paper , pp. 12876
    • Mishkin, F.S.1    Schmidt-Hebbel, K.2
  • 40
    • 0142062185 scopus 로고    scopus 로고
    • Does inflation target matter? Federal reserve bank of St. Louis
    • Neumann M.J.M., Von HAGEN J. Does inflation target matter? Federal reserve bank of St. Louis. Review 2002, 84(4):127-148.
    • (2002) Review , vol.84 , Issue.4 , pp. 127-148
    • Neumann, M.J.M.1    Von Hagen, J.2
  • 41
    • 0034789042 scopus 로고    scopus 로고
    • Currency unions and trade: how large is the treatment effect?
    • Persson T. Currency unions and trade: how large is the treatment effect?. Economic Policy 2001, 16(33):433-462.
    • (2001) Economic Policy , vol.16 , Issue.33 , pp. 433-462
    • Persson, T.1
  • 43
    • 0034765549 scopus 로고    scopus 로고
    • The mystery of the vanishing benefits: an introduction to impact evaluation
    • F. Bourguignon (Ed.)
    • Ravallion M. The mystery of the vanishing benefits: an introduction to impact evaluation. The World Bank Economic Review 2001, Vol. 15:115-140. F. Bourguignon (Ed.).
    • (2001) The World Bank Economic Review , vol.15 , pp. 115-140
    • Ravallion, M.1
  • 44
    • 1642369860 scopus 로고    scopus 로고
    • The modern history of exchange rate arrangements: a reinterpretation
    • Reinhart C., Rogoff K. The modern history of exchange rate arrangements: a reinterpretation. Quarterly Journal of Economics 2004, 119(1):1-48.
    • (2004) Quarterly Journal of Economics , vol.119 , Issue.1 , pp. 1-48
    • Reinhart, C.1    Rogoff, K.2
  • 45
    • 0037698338 scopus 로고    scopus 로고
    • The realities of modern hyperinflation: despite falling inflation rates worldwide, hyperinflation could happen again
    • International Monetary Fund
    • Reinhart C.M., Savastano M.A. The realities of modern hyperinflation: despite falling inflation rates worldwide, hyperinflation could happen again. Finance & Development 2003, 20-23. International Monetary Fund.
    • (2003) Finance & Development , pp. 20-23
    • Reinhart, C.M.1    Savastano, M.A.2
  • 46
    • 33744717982 scopus 로고    scopus 로고
    • On Target? The international experience with achieving inflation targets
    • Roger S., Stone M. On Target? The international experience with achieving inflation targets. IMF Working Paper N. 05/163, August 2005.
    • (2005) IMF Working Paper N. 05/163, August
    • Roger, S.1    Stone, M.2
  • 48
    • 84960565921 scopus 로고
    • Openness and inflation: theory and evidence
    • Romer D. Openness and inflation: theory and evidence. Quarterly Journal of Economics 1993, 108(4):869-903.
    • (1993) Quarterly Journal of Economics , vol.108 , Issue.4 , pp. 869-903
    • Romer, D.1
  • 49
    • 34250201839 scopus 로고    scopus 로고
    • A stable international monetary system emerges: inflation targeting is Bretton Woods, reversed
    • Rose A.K. A stable international monetary system emerges: inflation targeting is Bretton Woods, reversed. Journal of International Money and Finance 2007, 26(5):663-681.
    • (2007) Journal of International Money and Finance , vol.26 , Issue.5 , pp. 663-681
    • Rose, A.K.1
  • 50
    • 77951622706 scopus 로고
    • The central role of the propensity score in observational studies for causal effects
    • Rosenbaum R., Rubin B. The central role of the propensity score in observational studies for causal effects. Biometrika 1983, 70(1):41-55.
    • (1983) Biometrika , vol.70 , Issue.1 , pp. 41-55
    • Rosenbaum, R.1    Rubin, B.2
  • 52
    • 0013130561 scopus 로고    scopus 로고
    • Adopting inflation targeting: practical issues for emerging market countries
    • Schaechter A., Zelmer M. Adopting inflation targeting: practical issues for emerging market countries. IMF Occasional Papers 202, December 2000.
    • (2000) IMF Occasional Papers 202, December
    • Schaechter, A.1    Zelmer, M.2
  • 53
    • 0000529574 scopus 로고    scopus 로고
    • Inflation forecast targeting: implementing and monitoring inflation targets
    • Svensson L.E.O. Inflation forecast targeting: implementing and monitoring inflation targets. European Economic Review 1997, 41(6):1111-1146.
    • (1997) European Economic Review , vol.41 , Issue.6 , pp. 1111-1146
    • Svensson, L.E.O.1
  • 54
    • 0036260736 scopus 로고    scopus 로고
    • Inflation targeting: should it be modeled as an instrument rule or a targeting rule
    • Svensson L.E.O. Inflation targeting: should it be modeled as an instrument rule or a targeting rule. European Economic Review 2002, 46(4-5):771-780.
    • (2002) European Economic Review , vol.46 , Issue.4-5 , pp. 771-780
    • Svensson, L.E.O.1
  • 55
    • 0009903373 scopus 로고    scopus 로고
    • Transparency and credibility: monetary policy with unobservable goals
    • Svensson L.E.O., Faust J. Transparency and credibility: monetary policy with unobservable goals. International Economic Review 2001, 42(2):369-397.
    • (2001) International Economic Review , vol.42 , Issue.2 , pp. 369-397
    • Svensson, L.E.O.1    Faust, J.2
  • 57
    • 10944247092 scopus 로고    scopus 로고
    • Does financial globalization induce better macroeconomic policies?
    • Tytell I., Wei S. Does financial globalization induce better macroeconomic policies?. IMF Working Paper N. 04/84, May 2004.
    • (2004) IMF Working Paper N. 04/84, May
    • Tytell, I.1    Wei, S.2
  • 58
    • 33749332190 scopus 로고    scopus 로고
    • Inflation targeting and inflation behavior: a successful story?
    • Vega M., Winkelried D. Inflation targeting and inflation behavior: a successful story?. International Journal of Central Banking 2005, 1(3):153-175.
    • (2005) International Journal of Central Banking , vol.1 , Issue.3 , pp. 153-175
    • Vega, M.1    Winkelried, D.2
  • 59
    • 0039107310 scopus 로고    scopus 로고
    • Fiscal requirements for price stability
    • Woodford M. Fiscal requirements for price stability. Journal of Money, Credit and Banking 2001, 33(3):669-728.
    • (2001) Journal of Money, Credit and Banking , vol.33 , Issue.3 , pp. 669-728
    • Woodford, M.1
  • 61
    • 33645515329 scopus 로고    scopus 로고
    • Does inflation targeting reduce inflation? An analysis for the OECD industrial countries
    • Wu T.Y. Does inflation targeting reduce inflation? An analysis for the OECD industrial countries. Central Bank of Brazil Working Paper Series N. 83, May 2004.
    • (2004) Central Bank of Brazil Working Paper Series N. 83, May
    • Wu, T.Y.1
  • 62
    • 58849091130 scopus 로고    scopus 로고
    • Openness and inflation
    • Federal Reserve Bank of Dallas, April
    • Wynne M.A., Kersting E.K. Openness and inflation. Staff Papers N. 2 2007, Federal Reserve Bank of Dallas, April.
    • (2007) Staff Papers N. 2
    • Wynne, M.A.1    Kersting, E.K.2


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.