Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/57370
Authors: 
Moretti, Laura
Year of Publication: 
2012
Series/Report no.: 
CFS Working Paper 2012/01
Abstract: 
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.
Subjects: 
Inflation Targeting
Product Market Deregulation
Difference in Difference
JEL: 
E31
E58
E65
L51
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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