Inflation targeting and monetary policy

John King

Journal of Economics and Econometrics, 2017, vol. 60, issue 2, 65-80

Abstract: The present paper studies the long run relationship between the inflation rate, real effective exchange rate, statutory reserve rate, narrow money and broad money. We apply time-series analytical mechanisms to daily data of all OECD countries for the period 2004-2016. The adopted ARDL bounds testing approach allows to account for all key transmission mechanisms and channels of adjustment and estimate. Our results confirm a long-run relationship between all key macro-financial variables.

Keywords: Interest rate; inflation targeting; monetary policy; ARDL. (search for similar items in EconPapers)
JEL-codes: C58 E44 G15 (search for similar items in EconPapers)
Date: 2017
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Citations: View citations in EconPapers (1)

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