This paper surveys the empirical literature of dealing with the choice of inflation targeting (IT). Specifically, the paper focuses on the main institutional, macroeconomic, and technical determinants affecting the adoption of IT. The main findings from our review are the following: there is...

This paper examines the macroeconomic, financial, and institutional factors which affect the adoption of inflation targeting as a monetary policy strategy. We estimate a panel binary response model for 44 emerging market economies (EMEs) during 1990- 2017. The main findings from our empirical...

In this paper, we study whether adopting Inflation Targeting (IT) in Emerging Market Economies (EMEs) affects the output costs of disinflation, controlling for a number of additional factors. Based on a sample of 170 disinflation episodes in 44 EMEs over the 1970-2017 period, we provide strong...