教師資料查詢 | 類別: 期刊論文 | 教師: 黃河泉 HO-CHUAN HUANG (瀏覽個人網頁)

標題:Inflation targeting and output-inflation tradeoffs
學年108
學期1
出版(發表)日期2019/09/01
作品名稱Inflation targeting and output-inflation tradeoffs
作品名稱(其他語言)
著者Ho-Chuan, Huang; Chih-Chuan, Yeh; Xiuhua Wang
單位
出版者
著錄名稱、卷期、頁數Journal of International Money and Finance 96, p.102-120
摘要This article assesses whether the adoption of inflation targeting (IT) helps reduce the output-inflation tradeoff. We address the self-selection problem of IT policy adoption by the endogenous switching regressions, and show that the output-inflation tradeoffs are significantly lower in IT countries not only over the whole sample but also across the developed and developing country subsamples. In addition, we also find strong evidence supporting the positive selection hypothesis, i.e., countries have higher probability of adopting IT are exactly those who benefit more (larger reduction of output-inflation tradeoff) from the implementation of IT. Additional results reveal that economies with higher trade openness, lower financial openness, and less flexible exchange rate regime are associated with larger tradeoff between output and inflation, but the effects are only statistically significant in the IT regime.
關鍵字Inflation targeting;Output-inflation tradeoff;Endogenous switching regression;Globalization;Exchange rate regime
語言英文(美國)
ISSN
期刊性質國外
收錄於SSCI;
產學合作
通訊作者
審稿制度
國別中華民國
公開徵稿
出版型式,電子版
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