GUNJI Hiroshi Faculty of Economics Department of Modern Economics Professor |
■ Title Does inflation targeting really matter? Doubly robust estimation |
■ Outline This study examines the performance stability of firms in inflation-targeting countries before and after the 2008 global financial crisis. We use the propensity score method to analyse and compare firms in inflation-targeting and non-inflation-targeting countries. The estimation results show that firms in inflation-targeting countries underperform in response to shocks. Our results suggest that inflation targeting does not necessarily mitigate an economy's response to business cycle fluctuations. Gunji, Hiroshi Single Applied Economics Letters Routledge 30(12),pp.1578 2023 |
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