In Search of Successful Inflation Targeting : : Evidence From An Inflation Targeting Index / / Yanliang Miao

• Autore: Miao Yanliang
• Pubblicazione: Washington, D.C. : , : International Monetary Fund, , 2009
• Descrizione fisica: 35 p. : ill
• Soggetto topico: Inflation targeting; Monetary policy; Banks and Banking; Inflation; Money and Monetary Policy; Public Finance; Monetary Policy, Central Banking, and the Supply of Money and Credit: General; Monetary Policy; Central Banks and Their Policies; Price Level; Deflation; Banks; Depository Institutions; Micro Finance Institutions; Mortgages; Taxation, Subsidies, and Revenue: General; Macroeconomics; Monetary economics; Banking; Public finance & taxation; Disinflation; Central bank autonomy; Prices; Central banks; Institutional arrangements for revenue administration; Revenue administration; Banks and banking; Revenue
• Soggetto geografico: New Zealand
• Note generali: Bibliographic Level Mode of Issuance: Monograph
• Nota di bibliografia: Includes bibliographical references.
• Sommario/riassunto: In a first attempt to treat inflation targeting (IT) as a continuous variable, we construct IT subindices for 21 full-fledged ITers on three dimensions: flexibility, transparency, and explicitness. Comparing flexibility and transparency we find that (1) the impact of flexibility on both the mean and variation of inflation is more quadratic than that of transparency; (2) after adding the transparency index, the impact of flexibility is no longer significant. The significant and negative association between transparency and the level and variation of inflation is confirmed when we check for robustness by controlling for disinflation stage, subsampling, instrumental variable estimation, and principal component analysis (PCA).
• Titolo autorizzato: In Search of Successful Inflation Targeting
• ISBN: 1-4623-2247-6; 1-4518-7295-X; 1-282-84362-1; 9786612843624; 1-4519-9533-4
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Lingua di pubblicazione: Inglese
• Record Nr.: 9910788331403321
• Lo trovi qui: Univ. Federico II
• Serie: IMF Working Papers; Working Paper ; ; No. 2009/148