Has inflation targeting had any impact on inflation?

References

• Alesina, A.F.; Blanchard, O.; Gali, J.; Giavazzi, F.; and Uhlig, H. Defining a Macroeconomic Framework for the Euro Area: Monitoring the European Central Bank 3. London: Centre for Economic Policy Research, 2001.
   Google Scholar
• Arestis, P.; Caporale, G.M.; and Cipollini, A. "Is There a Trade-Off Between Inflation and Output Gap?" Manchester School of Economic and Social Research, 2002, 70 (4), 528-545.
   Google Scholar
• Ball, L., and Sheridan, N. "Does Inflation Targeting Matter?" Working Paper Series No. 9577, National Bureau of Economic Research, Cambridge, MA, 2003.
   Google Scholar
• Bernanke, B.S. "A Perspective on Inflation Targeting." Remarks delivered at the Annual Washington Policy Conference of the National Association of Business Economists, Washington, DC, March 25, 2003.
   Google Scholar
• Bernanke, B.S.; Laubach, T.; Mishkin, F.; and Posen, A. Inflation Targeting: Lessons from the International Experience. Princeton: Princeton University Press, 1999.
   Google Scholar
• Bollard, A. "The Evolution of Monetary Policy in New Zealand." Speech Delivered to the Rotary Club of Wellington, Federal Reserve Bank of New Zealand, Wellington, 2002 (available at www.rbnz.govt.nz/speeches/0127615.html).
   Google Scholar
• Box, G.E.P., and Tiao, G.C. "Intervention Analysis with Applications to Economic and Environmental Problems." Journal of the American Statistical Association, 1975, 70 (1), 70-79.
   Google Scholar
• Cecchetti, S.G., and Ehrmann, M. "Does Inflation Targeting Increase Output Volatility? An International Comparison of Policymakers' Preferences and Outcomes." Working Paper 7426, National Bureau of Economic Research, Cambridge, MA, 1999.
   Google Scholar
• Clifton, E.V.; Hyginus, L.; and Wong, C.-H. "Inflation Targeting and the Unemployment-Inflation Trade-Off." Working Paper 01/166, International Monetary Fund, Washington, DC, 2001.
   Google Scholar
• Corbo, V.; Landerretche, M.O.; and Schmidt-Hebbel, K. "Assessing Inflation Targeting After a Decade of World Experience." Central Bank of Chile, Santiago, 2001.
   Google Scholar
• ------. "Does Inflation Targeting Make a Difference?" In N. Loayza and R. Saito (eds.), Inflation Targeting: Design, Performance, Challenges. Santiago: Central Bank of Chile, 2002, pp. 221-269.
   Google Scholar
• Debelle, G. "Inflation Targeting in Practice." Working Papers Series No. 97/35, International Monetary Fund, Washington, DC, 1997.
   Google Scholar
• Duisenberg, W. "Introductory Statement, and Questions and Answers." Speech delivered at the European Central Bank Press Conference, Frankfurt, Germany, May 8, 2003.
   Google Scholar
• Gramlich, E.M. "Inflation Targeting." Remarks delivered at the Charlotte Economics Club, Charlotte, NC, January 13, 2000.
   Google Scholar
• Harvey, A.C. Forecasting Structural Time Series Models and the Kalman Filter. Cambridge: Cambridge University Press, 1989.
   Google Scholar
• ------. Time Series Models, 2d ed. Hemel Hempstead, UK: Harvester Wheatsheaf, 1993.
   Google Scholar
• ------. "Intervention Analysis with Control Groups." International Statistical Review, 1996, 64 (3), 313-328.
   Google Scholar
• Harvey, A.C., and Durbin, J. "The Effects of Seat Belt Legislation on British Road Casualties: A Case Study in Structural Time Series Modeling," Journal of the Royal Statistical Society, Series A (General), 1986, 149 (3), 187-227.
   Google Scholar
• Honda, Y. "Some Tests on the Effects of Inflation Targeting in New Zealand, Canada and the UK." Economics Letters, 2000, 66 (1), 1-6.
   Google Scholar
• Johnson, D.R. "The Effect of Inflation Targeting on the Behavior of Expected Inflation: Evidence from an 11 Country Panel." Journal of Monetary Economics, 2002, 49 (4), 1521-1538.
   Google Scholar
• ------. "The Effect of Inflation Targets on the Level of Expected Inflation in Five Countries." Review of Economics and Statistics, 2003, 85 (4), 1076-1081.
   Google Scholar
• Leiderman, L., and Svensson, L.E.O. (eds.). Inflation Targets. London: Centre for Economic Policy Research, 1995.
   Google Scholar
• Mishkin, F.S. "International Experiences with Different Monetary Policy Regimes." Journal of Monetary Economics, 1999, 43 (2), 579-605.
   Google Scholar
• Neumann, M.J.M., and von Hagen, J. "Does Inflation Targeting Matter?" Federal Reserve Bank of St. Louis Review, 2002, 84 (4), 127-148.
   Google Scholar
• Pétursson, T. "The Effects of Inflation Targeting on Macroeconomic Performance." Working Paper No. 23, Central Bank of Iceland, Reykjavik, 2004.
   Google Scholar
• Sikklos, P.L. "Inflation-Target Design: Changing Inflation Performance and Persisence in Industrial Countries." Federal Reserve Bank of St. Louis Review, 1999, 81 (1), 47-58.
   Google Scholar
• Sterne, G. "Inflation Targets in a Global Context." In N. Loayza and N. Soto (eds.), Inflation Targeting: Design, Performance, Challenges. Santiago: Central Bank of Chile, 2002, pp. 23-77.
   Google Scholar
• Zellner, A. "Estimators for Seemingly Unrelated Regression Equations: Some Exact Finite Sample Results." Journal of the American Statistical Association, 1963, 58 (304), 977-992.
   Google Scholar