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학술연구/단체지원/교육 등 연구자 활동을 지속하도록 DBpia가 지원하고 있어요.
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논문 기본 정보
- 자료유형
- 학술저널
- 저자정보
- 발행연도
- 2014.1
- 수록면
- 137 - 170 (34page)
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This paper investigates theoretically using an economic model whether inflation targeting policy is an optimum policy or not in developing countries, where central banks have engaged in quasi fiscal activities. Technically, the paper compares between two strategies; inflation targeting policy and Morris and Shin (2002a) strategy, in which the expected inflation rate is built based on external and internal signals. The result proves that inflation targeting policy is not an optimum under a dependent central bank. Agents in developing countries do not react to inflation targeting policy because of the high uncertainty level. They prefer to rely on external signals. Moreover, we prove that an effective inflation targeting policy requires more economic certainty and stability.
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참고문헌 (34)
참고문헌 신청
Addison, E / 2008 / Lessons from inflation targeting in developing countries:The case of Ghana / International symposium on monetary and price stability in the West African Economi
Albagli, E. / 2004 / By how much and why do inflation targeters miss their targets?
Amato, J / 2003 / Communication and monetary policy / Oxford Review of Economic Policy 18 : 495 ~ 503
Bakradze, G. / 2007 / Inflation targeting in Georgia: Are we there yet?
Balanchard, O / 2010 / Rethinking macroeconomic policy / Journal of Money, Credit and Banking 42 : 199 ~ 215
Albagli, E. / 2004 / By how much and why do inflation targeters miss their targets?
Amato, J / 2003 / Communication and monetary policy / Oxford Review of Economic Policy 18 : 495 ~ 503
Bakradze, G. / 2007 / Inflation targeting in Georgia: Are we there yet?
Balanchard, O / 2010 / Rethinking macroeconomic policy / Journal of Money, Credit and Banking 42 : 199 ~ 215
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