The effects of inflation targeting on Okun's law
學年 104
學期 2
出版（發表）日期 2016-05-04
作品名稱 The effects of inflation targeting on Okun's law
作品名稱（其他語言）
著者 Huang, Ho-Chuan; Yeh, Chih-Chuan; Ku, Kuang-Ping; Lin, Shu-Chuan
單位
出版者
著錄名稱、卷期、頁數 Applied Economics Letters 23(12), p.868-874
摘要 This article provides the first empirical evidence that the adoption of inflation targeting (IT) matters for the extent of tradeoff between unemployment and output, that is Okun’s law. Our full sample results indicate that IT leads to a more negative Okun’s coefficient, suggesting that, for a given reduction of output, the introduction of IT is associated with a higher unemployment rate. Subsample analyses reveal that the whole sample results are mainly driven by the industrial subsample outcomes, not the developing counterparts. Our findings point out that IT not only influences macroeconomic variables per se but also affects the relationship between/among macroeconomic variables.
關鍵字 Inflation targeting;Okun’s law;time-varying;propensity score matching
語言 en
ISSN 1350-4851
期刊性質 國外
收錄於 SSCI
產學合作
通訊作者
審稿制度 是
國別 GBR
公開徵稿
出版型式 ,電子版,紙本
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