Inflation Targeting Does Not Matter: Another Look at OECD Economies’ Output Sacrifice Ratios

dc.contributor.authorBrito, Ricardo Dias de Oliveira
dc.coverage.cidadeSão Paulopt_BR
dc.coverage.paisBrasilpt_BR
dc.creatorBrito, Ricardo Dias de Oliveira
dc.date.accessioned2023-07-17T16:00:54Z
dc.date.available2023-07-17T16:00:54Z
dc.date.issued2010
dc.description.abstractRecently in this journal, Gonçalves and Carvalho (2009) concluded that inflation targeters were able to bring inflation down at less cost than nontargeters (p. 242). This comment shows that their conclusion is not robust, but instead is the result of comparing a particular subset of IT disinflations with non-simultaneous disinflations that occurred under very different macroeconomic conditions. In their sample, simple extensions like justifiably varying the treatment group of inflation targeting disinflations, to control for common time-varying effects or to control for the Maastricht Treaty effects, prove that inflation targeting does not matter.
dc.description.otherRecently in this journal, Gonçalves and Carvalho (2009) concluded that inflation targeters were able to bring inflation down at less cost than nontargeters (p. 242). This comment shows that their conclusion is not robust, but instead is the result of comparing a particular subset of IT disinflations with non-simultaneous disinflations that occurred under very different macroeconomic conditions. In their sample, simple extensions like justifiably varying the treatment group of inflation targeting disinflations, to control for common time-varying effects or to control for the Maastricht Treaty effects, prove that inflation targeting does not matter.pt_BR
dc.format.extent14 p.pt_BR
dc.format.mediumDigitalpt_BR
dc.identifier.issueBEWP 102/2010
dc.identifier.urihttps://repositorio.insper.edu.br/handle/11224/5817
dc.language.isoInglêspt_BR
dc.publisherInsperpt_BR
dc.publisherIBMEC São Paulopt_BR
dc.relation.ispartofseriesInsper Working Paperpt_BR
dc.rights.licenseO INSPER E ESTE REPOSITÓRIO NÃO DETÊM OS DIREITOS DE USO E REPRODUÇÃO DOS CONTEÚDOS AQUI REGISTRADOS. É RESPONSABILIDADE DO USUÁRIO VERIFICAR OS USOS PERMITIDOS NA FONTE ORIGINAL, RESPEITANDO-SE OS DIREITOS DE AUTOR OU EDITORpt_BR
dc.subject.keywordsinflation targetingpt_BR
dc.subject.keywordssacrifice ratiopt_BR
dc.titleInflation Targeting Does Not Matter: Another Look at OECD Economies’ Output Sacrifice Ratiospt_BR
dc.typeworking paper
dspace.entity.typePublication
local.subject.cnpqCiências Sociais Aplicadaspt_BR
local.typeWorking Paperpt_BR

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