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dc.contributor.authorBratsiotis, GJ-
dc.contributor.authorMadsen, J-
dc.contributor.authorMartin, C-
dc.identifier.citationEconomics and Finance Working papers, Brunel University, 02-12en
dc.description.abstractThis paper argues that the adoption of an inflation target reduces the persistence of inflation. We develop the theoretical literature on inflation persistence by introducing a Taylor rule for monetary policy into a model of persistence and showing that inflation targets reduce inflation persistence. We investigate changes in the time series properties of inflation in seven countries that introduced inflation targets in the late 1980s or early 1990s. We find that the persistence of inflation is greatly reduced or eliminated following the introduction of inflation targets.en
dc.format.extent71660 bytes-
dc.publisherBrunel Universityen
dc.subjectTaylor Rule, Inflation targeting, Phillips Curve, Inflation persistence.en
dc.titleInflation targeting and inflation persistenceen
dc.typeResearch Paperen
Appears in Collections:Economics and Finance
Dept of Economics and Finance Research Papers

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