Is inflation targeting effective? Lessons from global financial crisis and COVID‐19 pandemic
Chandan Sethi,
Bibhuti Ranjan Mishra
Abstract:This paper explores the influence of inflation targeting (IT) policy on macroeconomic performance in 24 Asian economies by taking a wide range of macroeconomic variables from 2001 to 2022. Specifically, the study seeks to evaluate the influence of IT on macroeconomic performance during the global financial crisis (GFC) and the COVID‐19 pandemic periods separately. The empirical analysis comprises three approaches: propensity score matching, difference‐in‐differences, and panel‐corrected standard error methods.… Show more
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