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    题名: The effects of inflation targeting on Okun's law
    作者: Huang, Ho-Chuan;Yeh, Chih-Chuan;Ku, Kuang-Ping;Lin, Shu-Chuan
    关键词: Inflation targeting;Okun's law;time-varying;propensity score matching
    日期: 2016-06
    上传时间: 2017-02-24 02:10:24 (UTC+8)
    出版者: Routledge
    摘要: 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.
    關聯: Applied Economics Letters 23(12), pp.868-874
    DOI: 10.1080/13504851.2015.1117037
    显示于类别:[財務金融學系暨研究所] 期刊論文


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