How have inflation-targeting central banks responded to supply shocks? |
| |
| Authors: | Minoru Tachibana |
| |
| Institution: | School of Economics, Osaka Prefecture University, 1-1 Gakuen-cho, Naka-ku, Sakai, Osaka 599-8531, Japan |
| |
| Abstract: | This paper examines how inflation-targeting central banks have responded to supply shocks, based on the sign-restriction VAR approach. It is found that inflation-targeting central banks have become accommodative to adverse supply shocks following the adoption of inflation targeting. |
| |
| Keywords: | E52 E58 |
| 本文献已被 ScienceDirect 等数据库收录！ |
|
