On the endogeneity of inflation targeting : preferences over inflation
Over the last quarter of a century, inflation targeting has become a popular monetary regime. Nevertheless, empirical evaluations of IT have shown contradictory results. Part of the reason is that IT in and of itself constitutes an endogenous decision and thus needs to be properly instrumented. In t...
- Autores:
-
Roux Uribe, Nicolás de
Hofstetter Gascón, Marc
- Tipo de recurso:
- Work document
- Fecha de publicación:
- 2011
- Institución:
- Universidad de los Andes
- Repositorio:
- Séneca: repositorio Uniandes
- Idioma:
- eng
- OAI Identifier:
- oai:repositorio.uniandes.edu.co:1992/8223
- Acceso en línea:
- http://hdl.handle.net/1992/8223
- Palabra clave:
- Inflation targeting
Monetary policy
Monetary regimes
Política monetaria
Precios
Inflación
E31, E52, E58, E61
- Rights
- openAccess
- License
- http://creativecommons.org/licenses/by-nc-nd/4.0/
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Al consultar y hacer uso de este recurso, está aceptando las condiciones de uso establecidas por los autores.http://creativecommons.org/licenses/by-nc-nd/4.0/info:eu-repo/semantics/openAccesshttp://purl.org/coar/access_right/c_abf2Roux Uribe, Nicolás de65d0d449-48ab-4759-a626-cc7702ead0b9400Hofstetter Gascón, Marcc3868ebe-9d4c-450c-8c50-c2438135ad414002018-09-27T16:51:23Z2018-09-27T16:51:23Z20111657-5334http://hdl.handle.net/1992/82231657-719110.57784/1992/8223instname:Universidad de los Andesreponame:Repositorio Institucional Sénecarepourl:https://repositorio.uniandes.edu.co/Over the last quarter of a century, inflation targeting has become a popular monetary regime. Nevertheless, empirical evaluations of IT have shown contradictory results. Part of the reason is that IT in and of itself constitutes an endogenous decision and thus needs to be properly instrumented. In this paper, we show that preferences over inflation constitute a crucial determinant of IT: countries exhibiting greater inflation aversion are more likely to adopt IT.En el último cuarto de siglo el sistema de inflación objetivo se ha convertido en un popular régimen monetario. Sin embargo, las evaluaciones empíricas del sistema IO han mostrado resultados contradictorios. Parte de la razón es que la adopción de dicho sistema es endógena y por lo tanto debe ser apropiadamente instrumentada. En este documento mostramos que las preferencias sobre la inflación son un determinante crucial de la adopción del sistema IO: países con una aversión a la inflación más alta son más propensos a adoptar dicho sistema.29 páginasapplication/pdfengUniversidad de los Andes, Facultad de Economía, CEDEDocumentos CEDE No. 06 Febrero de 2011https://ideas.repec.org/p/col/000089/008731.htmlOn the endogeneity of inflation targeting : preferences over inflationSobre la endogenidad del sistema de inflación objetivo : el caso de la aversión a la inflaciónDocumento de trabajoinfo:eu-repo/semantics/workingPaperhttp://purl.org/coar/resource_type/c_8042http://purl.org/coar/version/c_970fb48d4fbd8a85Texthttps://purl.org/redcol/resource_type/WPInflation targetingMonetary policyMonetary regimesPolítica monetariaPreciosInflaciónE31, E52, E58, E61Facultad de EconomíaPublicationORIGINALdcede2011-06.pdfdcede2011-06.pdfapplication/pdf833873https://repositorio.uniandes.edu.co/bitstreams/1783e557-7859-4552-af0f-ab209c8f14a8/download3df5abc12373f48ea3412be818e058d9MD51THUMBNAILdcede2011-06.pdf.jpgdcede2011-06.pdf.jpgIM Thumbnailimage/jpeg3886https://repositorio.uniandes.edu.co/bitstreams/4e15d3fc-0667-41b6-a43c-6e827518b981/download3bd50932073bf294af3085cfb9caa943MD55TEXTdcede2011-06.pdf.txtdcede2011-06.pdf.txtExtracted texttext/plain50664https://repositorio.uniandes.edu.co/bitstreams/7ec42932-d803-4ecf-b04d-c7f2dcc93550/downloadac2dc954b7ca798da8f61a89b7134f23MD541992/8223oai:repositorio.uniandes.edu.co:1992/82232024-06-04 15:43:59.107http://creativecommons.org/licenses/by-nc-nd/4.0/open.accesshttps://repositorio.uniandes.edu.coRepositorio institucional Sénecaadminrepositorio@uniandes.edu.co |
| dc.title.none.fl_str_mv |
On the endogeneity of inflation targeting : preferences over inflation |
| dc.title.alternative.none.fl_str_mv |
Sobre la endogenidad del sistema de inflación objetivo : el caso de la aversión a la inflación |
| title |
On the endogeneity of inflation targeting : preferences over inflation |
| spellingShingle |
On the endogeneity of inflation targeting : preferences over inflation Inflation targeting Monetary policy Monetary regimes Política monetaria Precios Inflación E31, E52, E58, E61 |
| title_short |
On the endogeneity of inflation targeting : preferences over inflation |
| title_full |
On the endogeneity of inflation targeting : preferences over inflation |
| title_fullStr |
On the endogeneity of inflation targeting : preferences over inflation |
| title_full_unstemmed |
On the endogeneity of inflation targeting : preferences over inflation |
| title_sort |
On the endogeneity of inflation targeting : preferences over inflation |
| dc.creator.fl_str_mv |
Roux Uribe, Nicolás de Hofstetter Gascón, Marc |
| dc.contributor.author.none.fl_str_mv |
Roux Uribe, Nicolás de Hofstetter Gascón, Marc |
| dc.subject.keyword.none.fl_str_mv |
Inflation targeting Monetary policy Monetary regimes |
| topic |
Inflation targeting Monetary policy Monetary regimes Política monetaria Precios Inflación E31, E52, E58, E61 |
| dc.subject.armarc.none.fl_str_mv |
Política monetaria Precios Inflación |
| dc.subject.jel.none.fl_str_mv |
E31, E52, E58, E61 |
| description |
Over the last quarter of a century, inflation targeting has become a popular monetary regime. Nevertheless, empirical evaluations of IT have shown contradictory results. Part of the reason is that IT in and of itself constitutes an endogenous decision and thus needs to be properly instrumented. In this paper, we show that preferences over inflation constitute a crucial determinant of IT: countries exhibiting greater inflation aversion are more likely to adopt IT. |
| publishDate |
2011 |
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2011 |
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2018-09-27T16:51:23Z |
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2018-09-27T16:51:23Z |
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Documento de trabajo |
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http://purl.org/coar/version/c_970fb48d4fbd8a85 |
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info:eu-repo/semantics/workingPaper |
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http://purl.org/coar/resource_type/c_8042 |
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Text |
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1657-5334 |
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http://hdl.handle.net/1992/8223 |
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1657-7191 |
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10.57784/1992/8223 |
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reponame:Repositorio Institucional Séneca |
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eng |
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eng |
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Documentos CEDE No. 06 Febrero de 2011 |
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https://ideas.repec.org/p/col/000089/008731.html |
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29 páginas |
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Universidad de los Andes, Facultad de Economía, CEDE |
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Universidad de los Andes, Facultad de Economía, CEDE |
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