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|z 9781451858105
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|a 1018-5941
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|a Wong, Chorng-Huey.
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|a Inflation Targeting and the Unemployment-Inflation Trade-off /
|c Chorng-Huey Wong, Eric Clifton, Gene Leon.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2001.
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|a 1 online resource (43 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a This paper examines the impact of the introduction of inflation targeting on the unemployment-inflation trade-off in OECD countries. Theoretical models suggest that the credibility-enhancing effects of the adoption of inflation targeting should cause an improvement in the unemployment-inflation trade-off, id est, that reducing inflation by a given amount should occur with a smaller rise in unemployment. The empirical evidence examined for OECD countries adopting inflation targeting supports this hypothesis. Using a smooth transition regression model, it is shown that the improvement in this trade-off does not take place immediately after the adoption of inflation targeting; rather, it improves over time as the credibility of the central bank is established.
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|a Mode of access: Internet
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|a Clifton, Eric.
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|a Leon, Gene.
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|a IMF Working Papers; Working Paper ;
|v No. 2001/166
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2001/166/001.2001.issue-166-en.xml
|z IMF e-Library
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