...
  • 主题
高级搜索  >
历史搜索 清空历史
首页> 外文期刊>The North American journal of economics and finance >Inflation targeting and income velocity in developing economies: Some international evidence
【24h】

Inflation targeting and income velocity in developing economies: Some international evidence

机译：发展中国家的通胀目标和收入速度：一些国际证据

获取原文
获取原文并翻译 | 示例
           
页面导航
  • 摘要
  • 著录项
  • 相似文献
  • 相关主题

摘要

Developing economies tend to prefer or rely upon monetary policy rule with monetary aggregates due to institutional constraints on monetary policy conduct. One crucial condition for monetary aggregates to be a sound instrument is the stability of income velocity. Recently, inflation targeting has been adopted as an alternative monetary policy framework in various developing countries. This study attempts to examine how inflation targeting relates to the variability of income velocity and its components across 84 developing countries during the period from 1990 to 2013. The results suggest that inflation targeting would help stabilize income velocity in developing countries. In addition, a decomposition analysis of income velocity generally shows that inflation targeting would reduce the volatilities of inflation, real output growth, and money growth. Our results provide empirical support for the argument that stable income velocity associated with inflation targeting could improve the effectiveness of monetarism, such that monetary aggregates can serve as an appropriate instrument under inflation targeting regime in developing countries.
机译：由于对货币政策行为的制度约束，发展中经济体倾向于偏爱或依赖具有货币总量的货币政策规则。货币总量成为健全工具的关键条件之一是收入速度的稳定性。最近，在许多发展中国家，通货膨胀目标制已被用作替代性的货币政策框架。这项研究试图检验在1990年至2013年期间，通货膨胀目标制与84个发展中国家的收入速度及其组成部分之间的关​​系如何。结果表明，通货膨胀目标制将有助于稳定发展中国家的收入速度。此外，对收入速度的分解分析通常显示，以通胀为目标将减少通胀，实际产出增长和货币增长的波动。我们的结果为以下观点提供了实证支持：与通货膨胀目标制相关的稳定收入速度可以提高货币主义的有效性，因此货币总量可以作为发展中国家通货膨胀目标制下的适当工具。

著录项

相似文献

  • 外文文献
  • 中文文献
  • 专利
获取原文

客服邮箱：kefu@zhangqiaokeyan.com

京公网安备：11010802029741号 ICP备案号：京ICP备15016152号-6 六维联合信息科技 (北京) 有限公司©版权所有

  • 客服微信

  • 服务号