通货膨胀目标的调整：制度或经济前提条件的改善是否重要？

IF 16.4 1区化学 Q1 CHEMISTRY, MULTIDISCIPLINARY

Accounts of Chemical Research Pub Date : 2024-08-02 DOI:10.1111/infi.12448

Dooyeon Cho, Husang Kim

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引用次数: 0

摘要

本文研究了维持既定通胀目标而非改变目标的承诺如何取决于一国体制或经济先决条件的改善程度。对于 19 个设定通胀目标的国家，我们的研究表明，在中央银行独立性、通胀、政府负债、金融发展和中央银行信誉等制度或经济先决条件改善程度较高的国家，对预先宣布的目标做出更有力的操作承诺的情况更为明显。我们的研究结果还凸显了调整目标的自由裁量行为的各种意外情况，包括逐步消除通胀阶段、财政主导和向灵活目标制过渡。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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Inflation target adjustments: Does an improvement in institutional or economic preconditions matter?

This paper investigates how the commitment to maintain an established inflation target as opposed to changing it depends on the extent to which institutional or economic preconditions improve in a country. For 19 inflation-targeting countries, we show that stronger operational commitment to the preannounced target is pronounced in countries with a greater improvement in institutional or economic preconditions, such as central bank independence, inflation, government indebtedness, financial development and central bank credibility. Our results also highlight the heterogeneous contingencies for the discretionary behaviour of adjusting the target, including the gradual disinflation phase, fiscal dominance and the transition to flexible targeting.

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来源期刊

Accounts of Chemical Research 化学-化学综合

CiteScore

31.40

自引率

1.10%

发文量

312

审稿时长

2 months

期刊介绍： Accounts of Chemical Research presents short, concise and critical articles offering easy-to-read overviews of basic research and applications in all areas of chemistry and biochemistry. These short reviews focus on research from the author’s own laboratory and are designed to teach the reader about a research project. In addition, Accounts of Chemical Research publishes commentaries that give an informed opinion on a current research problem. Special Issues online are devoted to a single topic of unusual activity and significance. Accounts of Chemical Research replaces the traditional article abstract with an article "Conspectus." These entries synopsize the research affording the reader a closer look at the content and significance of an article. Through this provision of a more detailed description of the article contents, the Conspectus enhances the article's discoverability by search engines and the exposure for the research.