Loading...
Please wait, while we are loading the content...
Similar Documents
Do Inflation Targeting Central Banks Focus on Inflation - an Analysis for Ten Countries
| Content Provider | Semantic Scholar |
|---|---|
| Author | Fromlet, Pia |
| Copyright Year | 2010 |
| Abstract | In this paper I evaluate inflation targeting for ten countries. The evaluation is based on conditional measures of the variance of inflation around target. Assuming that the inflation targeting central bank focuses on the inflation target, expectations of the future deviation from target given information about the deviation from the target today should be equal to zero. Testing this hypothesis I find that the United Kingdom, Canada, Australia, and Korea have focused strongly on the inflation target. The United Kingdom has had the strongest focus on the inflation target and Poland the least. In an extended approach I add lagged output gap as an information variable for countries where data was available. I then get the result that the null hypothesis of central banks focusing on the inflation target can be rejected for six countries. |
| File Format | PDF HTM / HTML |
| Alternate Webpage(s) | http://uu.diva-portal.org/smash/get/diva2:352858/FULLTEXT02 |
| Language | English |
| Access Restriction | Open |
| Content Type | Text |
| Resource Type | Article |
