Neumann, Manfred J. M.; von Hagen, Jürgen - 2002
This paper studies the inflation and interest rate performances since the late 1970s for six former highinflation … countries that adopted inflation targeting (IT) in the early 1990’s. Using Germany, Switzerland and the US for comparison, we … reducing the level and volatility of inflation. However, IT central banks did not outperform the central banks used as …