Theoretical and Applied Economics
No. 4 / 2015 (605), Winter
Macroeconomic Effects of Inflation Targeting: Evidence from the Middle and High-Income Countries
Akdeniz University, Faculty of Economics and Administrative Sciences, Antalya, Turkey
Serdar OZTURK
Nevşehir Hacı Bektaş Veli University, Faculty of Economics and Administrative Sciences Nevşehir, Turkey
Abstract. By employing Propensity Score Matching analysis, this study aims first to show how inflation targeting affects macroeconomic indicators in middle and high-income countries, and second highlights whether the global financial crisis has created a change in the way that inflation targeting impacts on them. Results prove that adopting inflation targeting increases the real GDP and budget deficit, and decreases the current account deficit. However, its effect on inflation is puzzling. The high-income inflation targeters should be careful about implementing the strategy and inflation targeting should be accompanied by the fiscal policy either in middle or in high-income countries.
Contents
Social Innovation in the Local Public Sector: A Cross-Regional Approach for Romania
Testing the Validity of Political Business Cycle for the Fragile Five Countries
Fuel Price Volatility and Asymmetric Transmission of Crude Oil Price Changes to Fuel Prices
Analysis of Gross Domestic Product Evolution under the Influence of the Final Consumption
Gender-based Segregation before and after the Great Recession
Does Expenditure on Education Affect Economic Growth in India? Evidence from Cointegration and Granger Causality Analysis
Measuring the Influence of the J-Curve Effect on Trade in Romanian Forest Products
An Assessment of Customer Shared Value in the Restaurant Industry – a Survey from Sweden
Modelling optimal execution strategies for Algorithmic trading
Macroeconomic Effects of Inflation Targeting: Evidence from the Middle and High-Income Countries
Model of Analysis of Electronical Instruments Services in Romania
Banking Business and Social Media – A Strategic Partnership
The Interest Rate Corridor as a Macroprudential Tool to Mitigate Rapid Growth in Credits: Evidence from Turkey
Structural Breaks and Unit Roots in Indian Macroeconomic Variables
Analysis Model of GDP Dependence on the Structural Variables
Does Financial Development Influence Economic Growth in India?
Multidimensional Analysis of Performances in a Credit Brokerage Entity
Analysis of National Health Strategy 2014-2020
Threshold Effect of Public Debt on Domestic Investment: Evidence from Selected African Countries
Service Sector, Human Capital Accumulation and Endogenous Growth
The Communication Paradigms in Education
The Influence of Lending Activity on Economic Growth in Romania
Blended Learning – A Path towards Modernizing Higher Economic Education?
The Role of Epistemological Paradigms in Research in Social Sciences and Humanities
New Challenges for Agriculture within the Context of Climate Change
The Insertion of Young Economists in the Labor Market through the Specialty Practice. The Bucharest-Ilfov Region
Testing for Multiple Bubbles in the 35 Large and Medium Cities of Real Estate Price in China
Equilibriums and Economic Rationality in “the House of Life”
The Correlation between Employment and Productivity of Older Workers
Current Demographic Trends – A New Challenge for the Labour Market
The Great Transformation. The Formulation of New Models