Effects of adopting inflation targeting regimes on inflation variability

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buir.contributor.authorBerument, Hakan
dc.citation.epage273en_US
dc.citation.issueNumber1en_US
dc.citation.spage265en_US
dc.citation.volumeNumber375en_US
dc.contributor.authorBerument, Hakanen_US
dc.contributor.authorYuksel, E.en_US
dc.date.accessioned2016-02-08T10:15:19Z
dc.date.available2016-02-08T10:15:19Z
dc.date.issued2007en_US
dc.departmentDepartment of Economicsen_US
dc.description.abstractThis paper investigates whether inflation-targeting programs have altered the pattern of inflation and its variability for five developed countries and four emerging economies implementing inflation-targeting programs. A GARCH specification is used to model inflation variability, which accounts for public perception of the future levels of inflation variability-conditional variance. We could not find lower conditional inflation expectations except for Australia, Chile and Sweden under various specifications. Moreover, the conditional variance decreases only for Chile and the UK. Therefore, the empirical support for the lower inflation and its variability for the inflation targeting regimes is limited. © 2006 Elsevier B.V. All rights reserved.en_US
dc.description.provenanceMade available in DSpace on 2016-02-08T10:15:19Z (GMT). No. of bitstreams: 1 bilkent-research-paper.pdf: 70227 bytes, checksum: 26e812c6f5156f83f0e77b261a471b5a (MD5) Previous issue date: 2007en
dc.identifier.doi10.1016/j.physa.2006.08.047en_US
dc.identifier.eissn1873-2119
dc.identifier.issn0378-4371
dc.identifier.urihttp://hdl.handle.net/11693/23534
dc.language.isoEnglishen_US
dc.publisherElsevier BVen_US
dc.relation.isversionofhttp://dx.doi.org/10.1016/j.physa.2006.08.047en_US
dc.source.titlePhysica A : Statistical Mechanics and its Applicationsen_US
dc.subjectGARCHen_US
dc.subjectInflation targeting and inflation variabilityen_US
dc.subjectElectronic commerceen_US
dc.subjectMathematical modelsen_US
dc.subjectSpecificationsen_US
dc.subjectInflation targeting and inflation variabilityen_US
dc.subjectInflation targeting regimesen_US
dc.subjectStatistical mechanicsen_US
dc.titleEffects of adopting inflation targeting regimes on inflation variabilityen_US
dc.typeArticleen_US

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