Testing the impact of inflation targeting and central bank independence on labour market outcomes

Seim, Anna Larsson; Zetterberg, Johnny

doi:10.1093/oep/gps029

Cited by 13 publications

(2 citation statements)

References 24 publications

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“…They conclude that IT countries perform consistently better than the control group in terms of controlling inflation and, most importantly, without inducing additional volatility in output. Larsson and Zetterberg (2013) provide evidence of a positive impact of IT on real wages and no adverse effects on employment using a panel of 20 OECD countries from 1982-2003. Ardakani e al.…”

Section: Monetary Policy Reformsmentioning

confidence: 99%

Economic Agenda for Post-Conflict Reconstruction

Makdisi¹

2023

The Aftermath of the Arab Uprisings

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All rights reserved. No part of this publication may be reproduced in any form or by any electronic or mechanical means, including information storage and retrieval systems, without permission in writing from the publisher.The findings, interpretations and conclusions expressed in this publication are entirely those of the author(s) and should not be attributed to the Economic Research Forum, members of its Board of Trustees, or its donors.

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Section: Monetary Policy Reformsmentioning

confidence: 99%

Economic Agenda for Post-Conflict Reconstruction

Makdisi¹

2023

The Aftermath of the Arab Uprisings

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“…It is also important to mention that there were a number of studies which specifically aimed to assess the effectiveness of IT policy on alternative key macroeconomic variables. The impact of inflation targeting on the level of inflation expectations is illustrated in Johnson (2002) and Miller/Fang (2012); the impact of inflation targeting on output growth and its volatility is shown in in Walsh (2009), Brito/Bystedt (2010), andMollick et al (2011); the impact on exchange rates and international reserves are discussed in Lin (2010); and the labor market outcomes and the inflation-unemployment trade-off are discussed by Lundborg/Sacklen (2006), Epstein (2008), Louis/Balli (2013), Seim/Zetterberg (2013), andHuang/Yeh (2014).…”

Section: Literature Reviewmentioning

confidence: 99%

Political economy of central-bank mandates in developing countries

Ybrayev

2021

EJEEP

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In this paper, I explain theoretically the coordination and conflict scheme of fiscal and monetary policy workings, and then empirically assess the effect of both inflation-targeting and non-inflation-only targeting policies on inflation and unemployment rates. I employ a difference-in-difference method to estimate the impact on inflation, the unemployment rate, and their volatilities in both 10 inflation-targeting (single-mandate) and 11 non-inflation-targeting (multiple-mandate) countries specifically from the sample of developing economies over the period from 1998 to 2018. Our key findings show that while the inflation-targeting countries effectively present a reduction in inflation and inflation volatility, the effects on the unemployment rate are negligible, while unemployment volatility is higher in the period 1998–2008. Finally, the paper argues that the unemployment rate should be used as a natural second target in a typical emerging-market economy case.

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Inflation and reproduction: the impact of inflation targeting on fertility in emerging economies

2024

China popul. dev. stud.

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Testing the impact of inflation targeting and central bank independence on labour market outcomes

Cited by 13 publications

References 24 publications

Economic Agenda for Post-Conflict Reconstruction

Economic Agenda for Post-Conflict Reconstruction

Political economy of central-bank mandates in developing countries

Inflation and reproduction: the impact of inflation targeting on fertility in emerging economies

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