How have inflation-targeting central banks responded to supply shocks?

This paper examines how inflation-targeting central banks have responded to supply shocks, based on the sign-restriction VAR approach. It is found that inflation-targeting central banks have become accommodative to adverse supply shocks following the adoption of inflation targeting.

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Year of publication:	2013
Authors:	Tachibana, Minoru
Published in:	Economics Letters. - Elsevier, ISSN 0165-1765. - Vol. 121.2013, 1, p. 1-3
Publisher:	Elsevier
Subject:	Inflation targeting \| Sign-restriction VAR \| Policy response \| Supply shock

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Type of publication:	Article
Classification:	E52 - Monetary Policy (Targets, Instruments, and Effects) ; E58 - Central Banks and Their Policies
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010702783