Inflation targeting and inflation convergence: International evidence
| Autor: | Arestis, P. Chortareas, G. Magkonis, G. Moschos, D. |
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| Jazyk: | angličtina |
| Rok vydání: | 2014 |
| Popis: | We examine whether the inflation rates of the countries that pursue inflation targeting policies have converged as opposed to the experience of the OECD non-inflation targeters. Using a methodology introduced by Pesaran (2007a), we examine the stationarity properties of the inflation differentials. This approach has the advantage of avoiding setting arbitrarily a specific country as the benchmark economy. Our results indicate that the inflation rates converge irrespective of the monetary policy framework. © 2014 Elsevier B.V. |
| Databáze: | OpenAIRE |
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