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    Please use this identifier to cite or link to this item: http://tkuir.lib.tku.edu.tw:8080/dspace/handle/987654321/108180

    Title: The effects of inflation targeting on Okun's law
    Authors: Huang, Ho-Chuan;Yeh, Chih-Chuan;Ku, Kuang-Ping;Lin, Shu-Chuan
    Keywords: Inflation targeting;Okun’s law;time-varying;propensity score matching
    Date: 2016-03-04
    Issue Date: 2016-11-05 02:10:55 (UTC+8)
    Publisher: Routledge
    Abstract: This article provides the first empirical evidence that the adoption of inflation targeting (IT) matters for the extent of tradeoff between unemployment and output, that is Okun’s law. Our full sample results indicate that IT leads to a more negative Okun’s coefficient, suggesting that, for a given reduction of output, the introduction of IT is associated with a higher unemployment rate. Subsample analyses reveal that the whole sample results are mainly driven by the industrial subsample outcomes, not the developing counterparts. Our findings point out that IT not only influences macroeconomic variables per se but also affects the relationship between/among macroeconomic variables.
    Relation: Applied Economics Letters 23(12), p.868-874
    DOI: 10.1080/13504851.2015.1117037
    Appears in Collections:[財務金融學系暨研究所] 期刊論文

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