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Inflation targeting and monetary policy

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  • John King

Abstract

The present paper studies the long run relationship between the inflation rate, real effective exchange rate, statutory reserve rate, narrow money and broad money. We apply time-series analytical mechanisms to daily data of all OECD countries for the period 2004-2016. The adopted ARDL bounds testing approach allows to account for all key transmission mechanisms and channels of adjustment and estimate. Our results confirm a long-run relationship between all key macro-financial variables.

Suggested Citation

  • John King, 2017. "Inflation targeting and monetary policy," Journal of Economics and Econometrics, Economics and Econometrics Society, vol. 60(2), pages 65-80.
    • Handle: RePEc:eei:journl:v:60:y:2017:i:2:p:65-80
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    Cited by:

    1. Vlieghe, Gertjan, 2022. "Demographics and other constraints on future monetary policy," The Journal of the Economics of Ageing, Elsevier, vol. 23(C).

    More about this item

    Keywords

    Interest rate; inflation targeting; monetary policy; ARDL.;
    All these keywords.

    JEL classification:

    • C58 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Financial Econometrics
    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • G15 - Financial Economics - - General Financial Markets - - - International Financial Markets

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