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Keep your Word: Time-varying Inflation Targets and Inflation Targeting Performance

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dc.contributor.author Taş, Bedri Kamil Onur
dc.contributor.author Demir, Ishak
dc.date.accessioned 2019-05-23T05:53:21Z
dc.date.available 2019-05-23T05:53:21Z
dc.date.issued 2014-03
dc.identifier.citation Tas, B. K. O., & Demir, I. (2014). Keep your Word: Time?varying Inflation Targets and Inflation Targeting Performance. The Manchester School, 82(2), 160-182. en_US
dc.identifier.issn 1463-6786
dc.identifier.other number of pages 23
dc.identifier.uri https://doi.org/10.1111/manc.12005
dc.identifier.uri http://hdl.handle.net/20.500.11851/1099
dc.description.abstract This paper investigates the implicit inflation targets of inflation targeting (IT) central banks (CBs). The implicit (perceived) inflation targets of IT CBs derived from their actions (policy interest rates) are calculated before and after IT adoption. We conclude that after adoption of IT implicit targets become significantly lower. Other factors that cause CBs to change their implicit targets are inflation, exchange rate and trade balance. Finally, we find that CBs that do not follow their announced targets miss their inflation targets. The results indicate that IT CBs should follow their announced targets when setting policy interest rates. en_US
dc.language.iso eng en_US
dc.publisher Wiley-Blackwell en_US
dc.rights info:eu-repo/semantics/closedAccess
dc.subject countries en_US
dc.subject US en_US
dc.subject monetary-policy en_US
dc.subject persistence en_US
dc.subject expectations en_US
dc.title Keep your Word: Time-varying Inflation Targets and Inflation Targeting Performance en_US
dc.type article en_US
dc.relation.journal Manchester School en_US
dc.contributor.department TOBB ETU, Faculty of Economics and Administrative Sciences, Department of Economics en_US
dc.contributor.department TOBB ETÜ, İktisadi ve İdari Bilimler Fakültesi, İktisat Bölümü tr_TR
dc.identifier.volume 82
dc.identifier.issue 2
dc.identifier.startpage 160
dc.identifier.endpage 182
dc.contributor.orcid https://orcid.org/0000-0001-5418-777X
dc.identifier.wos WOS:000331355800003
dc.identifier.scopus 2-s2.0-84894227300
dc.contributor.tobbetuauthor Taş, Bedri Kamil Onur
dc.identifier.doi 10.1111/manc.12005
dc.relation.publicationcategory Makale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanı tr_TR


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