Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/217355 
Year of Publication: 
2019
Citation: 
[Journal:] Investigación Económica [ISSN:] 2594-2360 [Volume:] 78 [Issue:] 308 [Publisher:] Universidad Nacional Autónoma de México (UNAM), Faculdad de Economía [Place:] Ciudad de México [Year:] 2019 [Pages:] 120-139
Publisher: 
Universidad Nacional Autónoma de México (UNAM), Faculdad de Economía, Ciudad de México
Abstract: 
The popularity of inflation targeting has risen in the last decade and the number of countries that adopted inflation targeting as their monetary policy framework surpassed 40 by the end of 2016. This study analyzes whether inflation targeting around the world has been successful in terms of achieving the announced target and keeping inflation rate around it. We argue that a successful inflation targeting necessitates the deviation of inflation from the target be stationary. We employ both time series and panel unit root tests in order to analyze the stationarity properties of deviation of inflation from the target. Results of unit root tests provide evidence in favor of the success of inflation targeting framework around the world.
Subjects: 
Inflation targeting
central banks
inflation
unit roottests
stationarity
price stability
JEL: 
C23
E52
E58
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by-nc-nd Logo
Document Type: 
Article

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