How are inflation targets set?

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216208%3A11230%2F11%3A10100425" target="_blank" >RIV/00216208:11230/11:10100425 - isvavai.cz</a>

Nalezeny alternativní kódy

RIV/00216208:11640/11:00364420

Výsledek na webu

<a href="http://dx.doi.org/10.1111/j.1468-2362.2011.01283.x" target="_blank" >http://dx.doi.org/10.1111/j.1468-2362.2011.01283.x</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.1111/j.1468-2362.2011.01283.x" target="_blank" >10.1111/j.1468-2362.2011.01283.x</a>

Jazyk výsledku

angličtina

Název v původním jazyce

How are inflation targets set?

Popis výsledku v původním jazyce

This paper contributes to a better understanding of how inflation targets are set. First, we gather evidence on how inflation targets are set from official central bank and government publications, and from a questionnaire of our own design. Second, we estimate what determines the level of the inflation target in 19 inflation-targeting countries by using unbalanced panel interval regressions to deal with the issue that targets are typically set as a range rather than a point. We find that a higher target is associated with a higher level and variability of inflation. The setting of the inflation target is also found to have an important international dimension because higher world inflation is positively correlated with inflation targets. Rapidly growing countries exhibit higher inflation targets. Our results also show that authorities establish a wider target range for the inflation rate when the macroeconomic environment is less stable. We find that central bank credibility is negati

Název v anglickém jazyce

How are inflation targets set?

Popis výsledku anglicky

This paper contributes to a better understanding of how inflation targets are set. First, we gather evidence on how inflation targets are set from official central bank and government publications, and from a questionnaire of our own design. Second, we estimate what determines the level of the inflation target in 19 inflation-targeting countries by using unbalanced panel interval regressions to deal with the issue that targets are typically set as a range rather than a point. We find that a higher target is associated with a higher level and variability of inflation. The setting of the inflation target is also found to have an important international dimension because higher world inflation is positively correlated with inflation targets. Rapidly growing countries exhibit higher inflation targets. Our results also show that authorities establish a wider target range for the inflation rate when the macroeconomic environment is less stable. We find that central bank credibility is negati

Druh

J_x - Nezařazeno - Článek v odborném periodiku (Jimp, Jsc a Jost)

CEP obor

AH - Ekonomie

OECD FORD obor

—

Projekt

<a href="/cs/project/GAP402%2F10%2F0448" target="_blank" >GAP402/10/0448: Transparence měnové politiky: Teorie a empirické vyhodnocení</a><br>

Návaznosti

P - Projekt vyzkumu a vyvoje financovany z verejnych zdroju (s odkazem do CEP)

Rok uplatnění

2011

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název periodika

International Finance

ISSN

1367-0271

e-ISSN

—

Svazek periodika

14

Číslo periodika v rámci svazku

2

Stát vydavatele periodika

GB - Spojené království Velké Británie a Severního Irska

Počet stran výsledku

36

Strana od-do

265-300

Kód UT WoS článku

000294728600003

EID výsledku v databázi Scopus

—