Inflation Targeting and Business Cycle Synchronization

Robert P Flood and Andrew Rose

No 7377, CEPR Discussion Papers from Centre for Economic Policy Research

Abstract: Inflation targeting seems to have a small but positive effect on the synchronization of business cycles; countries that target inflation seem to have cycles that move slightly more closely with foreign cycles. Thus the advent of inflation targeting does not explain the decoupling of global business cycles, for two reasons. Indeed business cycles have not in fact become less synchronized across countries.

Keywords: Bilateral; Data; Empirical; Gdp; Insulation; Regime (search for similar items in EconPapers)
JEL-codes: F42 (search for similar items in EconPapers)
Date: 2009-07
New Economics Papers: this item is included in nep-cba, nep-mac, nep-mon and nep-opm
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Citations: View citations in EconPapers (13)

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Journal Article: Inflation targeting and business cycle synchronization (2010)
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