The Effects of Inflation Targeting on Macroeconomics Performance

Abdelkader Aguir () and Mounir Smida
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Abdelkader Aguir: PACTE - Pacte, Laboratoire de sciences sociales - UPMF - Université Pierre Mendès France - Grenoble 2 - UJF - Université Joseph Fourier - Grenoble 1 - IEPG - Sciences Po Grenoble - Institut d'études politiques de Grenoble - CNRS - Centre National de la Recherche Scientifique
Mounir Smida: MOFID-Université de Sousse

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Abstract: Since the 1990s inflation targeting (IT) has been adopted by several central banks as a strategy for monetary policy. It is expected that the adoption of this monetary regime can reduce inflation and inflation volatility. His practice was marked by a large observed at the beginning of the 90s and 2000 stability a debate emerges on efficiency and economic performance of the scheme. Many studies have focused on this question has no authority to reach a final consensus. The objective of this paper is to analysis of two macroeconomic aggregates: inflation and economic growth under different samples. Initially, we assess the evolution of these two quantities, in all countries targeting inflation, from before his adoption and post-adoption. The results of this first comparison show without exception that all inflation targeting countries had a lower and less volatile inflation. From these results we conclude that the efficiency and economic performance of this monetary policy in both the industrialized and emerging countries.

Keywords: Inflation targeting; Performance; Efficiency and stability. JEL: C40; E52; E63 (search for similar items in EconPapers)
Date: 2014-10-14
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Published in International Journal of Advances in Management and Economics, 2014

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