Yes / We examine whether the inflation rates of the countries that pursueinflation targeting policies have converged as opposed to the expe-rience of the OECD non-inflation targeters. Using a methodologyintroduced by Pesaran (2007a), we examine the stationarity prop-erties of the inflation differentials. This approach has the advantageof avoiding setting arbitrarily a specific country as the benchmarkeconomy. Our results indicate that the inflation rates converge irre-spective of the monetary policy framework.
Identifer | oai:union.ndltd.org:BRADFORD/oai:bradscholars.brad.ac.uk:10454/7169 |
Date | 04 1900 |
Creators | Arestis, P., Chortareas, G., Magkonis, Georgios, Moschos, D. |
Source Sets | Bradford Scholars |
Language | English |
Detected Language | English |
Type | Article, Accepted manuscript |
Rights | © 2014 Elsevier. Reproduced in accordance with the publisher's selfarchiving policy. This manuscript version is made available under the CC-BY-NC-ND 4.0 license http://creativecommons.org/licenses/by-nc-nd/4.0/ |
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