Do preferences shape institutions? The case of inflation aversion and inflation targeting

Nicolás de Roux and Marc Hofstetter

Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), 2014, vol. 51, issue C, 68-78

Abstract: We show that preferences, estimated with subjective measures of individual well-being, help to explain the adoption of certain types of institutions. In particular, we show that countries exhibiting greater inflation aversion are more likely to adopt the inflation targeting monetary regime.

Keywords: Subjective well being; Preferences; Inflation targeting; Monetary regimes (search for similar items in EconPapers)
JEL-codes: D02 D70 E02 E52 E58 E61 (search for similar items in EconPapers)
Date: 2014
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:soceco:v:51:y:2014:i:c:p:68-78

DOI: 10.1016/j.socec.2014.03.005

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