A experiência internacional de regimes de metas de inflação: uma análise com painel dinâmico

Authors

  • Marcos Rocha
  • José Luís Oreiro

Keywords:

dynamic panels, inflation

Abstract

This paper uses a growth model with dynamic panel techniques in order to investigate how (and if) the institutional architecture of inflation targeting regimes affects the  growth performance  of the countries that adopt this kind of monetary policy. The sample used to build the panel consists of 23 countries that officially adopted the inflation targeting regime. The Arellano and Bond (1991) methodology is used to estimate  the parameters of the dynamic growth model. The results support the view that the adoption of headline inflation indices, since it is a index of strong credibility; the definition of a convergence horizon for target inflation largerthan a year; and the capability of central banks to achieve the target inflation have positive and important effects over growth performance of selected countries.

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Published

2009-06-05

How to Cite

ROCHA, M.; OREIRO, J. L. A experiência internacional de regimes de metas de inflação: uma análise com painel dinâmico. Nova Economia, [S. l.], v. 18, n. 2, 2009. Disponível em: https://revistas.face.ufmg.br/index.php/novaeconomia/article/view/504. Acesso em: 18 dec. 2024.

Issue

Vol. 18 No. 2 (2008)

Section

Regular Issue

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