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1 janvier 2018
- handle: 10670/1.3jncdt
Ce document est lié à :
10.32468/espe.8501
info:eu-repo/semantics/openAccess
Mots-clés
Inflation Targeting Emerging EconomiesSujets proches
Targeting, InflationCiter ce document
Todd B. Walker, « Inflation Targeting in Emerging Economies », Ensayos sobre POLÍTICA ECONÓMICA, ID : 10670/1.3jncdt
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Résumé
I document the decline in the rate of inflation in 14 emerging economies after the implementation of an inflation targeting (IT) regime. I briefly describe how each country implements the IT, and argue that the new regime forced policy coordination amongst various governmental units, allowed for a more singular focus, and more transparent policy making process. This allowed agents to better coordinate expectations which precipitated the decline in the rate of inflation. I also document the difficulty with hitting a precise inflation target over a short period of time in the same countries. A model of policy coordination is presented to show how inflation is determined by joint behavior of monetary and fiscal policies. JEL Classification: C11, C32, E62, H39.