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Title: Do Inflation Targeters Outperform Non-Targeters?      
dateReleased:
04-08-2015
downloadURL: http://dx.doi.org/10.3886/ICPSR01336.v1
ID:
doi:10.3886/ICPSR01336.v1
description:
Ten years of empirical studies of inflation targeting have not uncovered clear evidence that monetary policy that incorporates formal targets imparts better inflation performance. The authors survey the literature and find that the "no difference" verdict concerning inflation targeting has been robust to a wide range of countries and methods of analysis, starting with a study by Dueker and Fischer (1996a). The authors present updated Markov-switching estimates from the original Dueker and Fisher (1996a) article and show that their early conclusions about inflation targeting among early adopters have not been overturned with an additional decade of data. These findings to date do not rule out the possibility, however, that formal inflation targets could prove pivotal if the global environment of disinflation were to reverse course.
description:
Dueker, Michael J.; Fischer, Andreas, 2015, "Do Inflation Targeters Outperform Non-Targeters?", http://dx.doi.org/10.3886/ICPSR01336.v1
name:
Dueker, Michael J.
Fischer, Andreas
homePage: http://www.harvard.edu/
name:
Harvard University
ID:
SCR:011273
abbreviation:
DataVerse
homePage: http://thedata.org/
name:
Dataverse Network Project
ID:
SCR:001997

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