Inflation Targeting in Emerging Market Economies

Abstract

have found evidence of additional gains stemming from inflation targeting. Ball and Sheridan (2003) have found no evidence that inflation-targeting countries have enjoyed better performance in the OECD. 2. The deviations of inflation from central targets and from the upper bounds of targets were 81% and 167% higher than in developed economies, respectively (table available on request to the authors). 13 1.. Emerging Market Economies 0) (0 8 Developed Economies 3.72 2.50 Before IT After IT (Until 2002:2) Before IT After IT (Until 2002:2) Date of adoption inflation targeting Developed economies

Adoption of inflation targeting and tax revenue performance in emerging market economies: An empirical investigation

“…This flexibility in the conduct of monetary policy is particularly important for emerging economies that are often adversely affected by external shocks (Fraga et al, 2003).…”

An estimation of the hybrid Phillips curve for Brazil in the inflation targeting regime

“…é mais importante na determinação da inflação do que a expectativa de inflação. Esse resultado é validado por outros estudos como os de Galí & Gertler (1999), Fraga et al (2003), Minella et al (2003) e Alves & Areosa (2005), em que o principal determinante é a expectativa da inflação. O coeficiente relacionado ao nível de atividade, traduzido pelo custo unitário do trabalho, apresenta o sinal esperado e é significativo ao nível de 1%.…”

“…Desde então, as expectativas de inflação passaram a desempenhar um papel relevante na condução da política monetária, como discutem Fraga et al (2003) e Minella et al (2003).…”

Las variaciones del tipo de cambio y el índice de inflación en las economías emergentes

“…Se amplía el trabajo de Céspedes, Chang y Velasco (2003y 2004 ;Fraga, Goldfajn y Minella (2003), y Tovar (2005.…”