A new test for the success of inflation targeting

dc.creatorPowell, Andrew
dc.creatorCohen Sabbán, Verónica
dc.creatorGonzález-Rozada, Martín
dc.date.accessioned2017-04-07T19:07:51Z
dc.date.accessioned2022-10-14T19:37:13Z
dc.date.available2017-04-07T19:07:51Z
dc.date.available2022-10-14T19:37:13Z
dc.date.created2017-04-07T19:07:51Z
dc.date.issued2003
dc.identifierhttp://repositorio.utdt.edu/handle/utdt/6267
dc.identifier.urihttps://repositorioslatinoamericanos.uchile.cl/handle/2250/4287684
dc.description.abstractWe propose a new test, derived from a set of variance decompositions of a structural VAR, for the success of inflation targeting. In contrast to standard sacrifice ratios this test considers changes in the structure of real and nominal shocks; second moment effects. We find strong support for IT with 7 of the 9 countries in our sample having negative “sacrifices” and many countries with “benefits”. However, we also find very different performances across IT countries.
dc.publisherUniversidad Torcuato Di Tella. Escuela de Negocios. Centro de Investigaciones en Finanzas (CIF)
dc.relationCentro de Investigaciones Financieras (CIF). Documentos de trabajo 04/2003
dc.rightshttp://rightsstatements.org/page/InC/1.0/?language=es
dc.rightsinfo:eu-repo/semantics/restrictedAccess
dc.titleA new test for the success of inflation targeting
dc.typeinfo:eu-repo/semantics/workingPaper


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