Inflation Targeting Does Not Matter: Another Look at OECD Sacrifice Ratios
Autores
Brito, Ricardo Dias de Oliveira
Orientador
Co-orientadores
Citações na Scopus
Tipo de documento
Artigo Científico
Data
2010
Resumo
Recently in this journal, Gonc ̧alves and Carvalho (2009) concluded thatinflation targeters were able to bring inflation down at less cost than non-targeters (p. 242). This comment shows that their conclusion is not robustbut instead is the result of comparing a particular subset of inflation tar-geting (IT) disinflations with nonsimultaneous disinflations that occurredunder very different macroeconomic conditions. In their sample, simple ex-tensions such as justifiably varying the treatment group of IT disinflations,to control for common time-varying effects or to control for the MaastrichtTreaty effects, suggest that IT does not matter
Palavras-chave
Titulo de periódico
Journal of Money, Credit and Banking
DOI
Título de Livro
URL na Scopus
Idioma
Inglês
Notas
Membros da banca
Área do Conhecimento CNPQ
Ciências Exatas e da Terra