Gerlach, Stefan; Tillmann, Peter - C.E.P.R. Discussion Papers - 2010
Following the Asian financial crisis in 1997-98, a number of Asian central banks adopted inflation targeting. We … explore how successful this framework has been by looking at the persistence of inflation, as measured by the sum of the … coefficients in an autoregressive model for inflation, using a median unbiased estimator and bootstrapped confidence bands. We find …