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How are inflation targets set?

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    SYSNO ASEP0353573
    Druh ASEPJ - Článek v odborném periodiku
    Zařazení RIVJ - Článek v odborném periodiku
    Poddruh JOstatní články
    NázevHow are inflation targets set?
    Tvůrce(i) Horváth, R. (CZ)
    Matějů, Jakub (NHU-C) RID
    Zdroj.dok.CERGE-EI Working Paper Series - ISSN 1211-3298
    -, č. 426 (2010), s. 1-35
    Poč.str.35 s.
    Forma vydáníwww - www
    Jazyk dok.eng - angličtina
    Země vyd.CZ - Česká republika
    Klíč. slovainflation targeting ; central bank ; credibility
    Vědní obor RIVAH - Ekonomie
    CEZMSM0021620846 - NHU-C
    AnotaceThis paper aims to contribute to a better understanding on how inflation targets are set. For this reason, we first gather evidence from official central bank and government publications and from a questionnaire sent to central banks on how inflation targets are set; we then estimate the determinants of the level of inflation target in 19 inflation targeting countries using unbalanced panel interval regressions (to deal with the issue that targets are typically set as a range rather than as a point). Inflation targets are found to reflect macroeconomic fundamentals. Higher level as well as higher variability of inflation are associated with higher target. The setting of the inflation target is also found to have an important international dimension, as higher world inflation is positively correlated with inflation targets. Rapidly growing countries exhibit higher inflation targets.
    PracovištěNárodohospodářský ústav - CERGE
    KontaktTomáš Pavela, pavela@cerge-ei.cz, Tel.: 224 005 122
    Rok sběru2011
Počet záznamů: 1