| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP8046 |
| DP8046 Inflation Targeting and Inflation Persistence in Asia | |
| Stefan Gerlach; Peter Tillmann | |
| 发表日期 | 2010-10-23 |
| 出版年 | 2010 |
| 语种 | 英语 |
| 摘要 | Following the Asian financial crisis in 1997-98, a number of Asian central banks adopted inflation targeting. We explore how successful this framework has been by looking at the persistence of inflation, as measured by the sum of the coefficients in an autoregressive model for inflation, using a median unbiased estimator and bootstrapped confidence bands. We find a significant reduction in inflation persistence following the adoption of inflation targeting. The speed by which persistence falls varies across countries. Interestingly, the economies not adopting inflation targeting do not show a decline in persistence. Measuring the performance of monetary policy strategies in terms of inflation persistence rather than the level of inflation shows that inflation targeting performs better than alternative strategies. |
| 主题 | International Macroeconomics |
| 关键词 | Asia Inflation persistence Inflation targeting Monetary policy strategy |
| URL | https://cepr.org/publications/dp8046 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/536897 |
| 推荐引用方式 GB/T 7714 | Stefan Gerlach,Peter Tillmann. DP8046 Inflation Targeting and Inflation Persistence in Asia. 2010. |
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