Inflation targeting and product market deregulation : [Version Januar 2012]
- I evaluate the effect of inflation targeting on inflation and how it interacts with product market deregulation during the disinflationary process in the 1990s. Using a sample of 21 OECD countries, I show that, after controlling for product market deregulation, the effect of inflation targeting is quantitatively important and statistically significant. Moreover, product market deregulation also matters in particular in countries that adopted an inflation targeting regime. I propose a New Keynesian Phillips curve with an explicit role for market deregulation to rationalize the empirical evidence.
| Author: | Laura Moretti |
|---|---|
| URN: | urn:nbn:de:hebis:30:3-241164 |
| Parent Title (German): | Center for Financial Studies (Frankfurt am Main): CFS working paper series ; No. 2012,01 |
| Series (Serial Number): | CFS working paper series (2012,01) |
| Publisher: | Goethe-Univ., House of Finance, Center for Financial Studies |
| Place of publication: | Frankfurt am Main |
| Document Type: | Working Paper |
| Language: | English |
| Year of Completion: | 2012 |
| Year of first Publication: | 2012 |
| Publishing Institution: | Universitätsbibliothek Johann Christian Senckenberg |
| Release Date: | 2012/02/07 |
| Tag: | Difference in Difference; Inflation Targeting; Product Market Deregulation |
| Issue: | Version Januar 2012 |
| Page Number: | 29 |
| HeBIS-PPN: | 312316623 |
| Institutes: | Wissenschaftliche Zentren und koordinierte Programme / House of Finance (HoF) |
| Wissenschaftliche Zentren und koordinierte Programme / Center for Financial Studies (CFS) | |
| Licence (German): |  Deutsches Urheberrecht |
