How have inflation-targeting central banks responded to supply shocks?

Minoru Tachibana

Economics Letters, 2013, vol. 121, issue 1, 1-3

Abstract: This paper examines how inflation-targeting central banks have responded to supply shocks, based on the sign-restriction VAR approach. It is found that inflation-targeting central banks have become accommodative to adverse supply shocks following the adoption of inflation targeting.

Keywords: Inflation targeting; Sign-restriction VAR; Policy response; Supply shock (search for similar items in EconPapers)
JEL-codes: E52 E58 (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:121:y:2013:i:1:p:1-3

DOI: 10.1016/j.econlet.2013.06.034

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