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Does Inflation Targeting Work Well? Evidence from CEE Countries

Chen Wang ()
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Chen Wang: Research School of Finance (RSFAS), Australian National University, Canberra

Acta Oeconomica, 2016, vol. 66, issue 3, 375-392

Abstract: This article examines the effects of inflation targeting (IT) policy on inflation and output performance. I employ the propensity score matching method for the sample of CEE countries from 1990 to 2010. The evidence suggests that the IT regime does not have a significant effect on the inflation level or the inflation volatility; however, the IT framework can help to increase GDP per capita. The effects on inflation indicators are inconsistent with previous studies. The results are robust to different methodologies.

Keywords: inflation; inflation targeting; CEE countries; propensity score matching (search for similar items in EconPapers)
JEL-codes: E31 E52 E58 (search for similar items in EconPapers)
Date: 2016
Note: I am greatly indebted to Professor Renée Fry-McKibbin and Dr. Gaurab Ayal for their helpful suggestions and advice. I am also grateful to the two anonymous referees for their comments. All remaining errors are my own.
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