dc.contributor.author |
Antonakakis, Nikolaos
|
|
dc.contributor.author |
Christou, Christina
|
|
dc.contributor.author |
Gil-Alana, Luis A.
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|
dc.contributor.author |
Gupta, Rangan
|
|
dc.date.accessioned |
2022-05-23T08:38:27Z |
|
dc.date.available |
2022-05-23T08:38:27Z |
|
dc.date.issued |
2021-10 |
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dc.description.abstract |
Existing empirical evidence on the effect of inflation-targeting on inflation volatility is, at best, mixed. However, comparing inflation volatility across alternative monetary policy regimes, i.e., pre- and post-inflation-targeting, begs the question. The question is not whether the volatility of inflation has changed, but instead whether the volatility is different than it otherwise would have been. Given this, our paper uses the cosine-squared cepstrum to provide overwhelming international evidence that inflation targeting has indeed reduced inflation volatility in 22 out of the 24 countries considered in our sample of established inflation-targeters, than it would have been the case if the central banks in these countries did not decide to set a target for inflation. |
en_US |
dc.description.department |
Economics |
en_US |
dc.description.librarian |
hj2022 |
en_US |
dc.description.uri |
http://www.elsevier.com/locate/inteco |
en_US |
dc.identifier.citation |
Antonakakis, N., Christou, C., Gil-Alana, L.A. & Gupta, R. 2021, 'Inflation-targeting and inflation volatility : international evidence from the cosine-squared cepstrum', International Economics, vol. 167, pp. 29-38, doi : 10.1016/j.inteco.2021.05.004. |
en_US |
dc.identifier.issn |
2110-7017 |
|
dc.identifier.other |
10.1016/j.inteco.2021.05.004 |
|
dc.identifier.uri |
https://repository.up.ac.za/handle/2263/85628 |
|
dc.language.iso |
en |
en_US |
dc.publisher |
Elsevier |
en_US |
dc.rights |
© 2021 CEPII (Centre d'Etudes Prospectives et d'Informations Internationales), a center for research and expertise on the world economy. Published by Elsevier B.V. All rights reserved. Changes resulting from the publishing process, such as peer review, editing, corrections, structural formatting, and other quality control mechanisms may not be reflected in this document. A definitive version was subsequently published in International Economics,vol. 167, pp. 29-38, 2021. doi : 10.1016/j.inteco.2021.05.004. |
en_US |
dc.subject |
Cosine-squared cepstrum |
en_US |
dc.subject |
Inflation-targeting |
en_US |
dc.subject |
Inflation volatility |
en_US |
dc.title |
Inflation-targeting and inflation volatility : international evidence from the cosine-squared cepstrum |
en_US |
dc.type |
Preprint Article |
en_US |