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dc.contributor.authorCobham, David
dc.contributor.authorMacmillan, Peter
dc.contributor.authorMason, Connor
dc.contributor.authorSong, Mengdi
dc.identifier.citationCobham , D , Macmillan , P , Mason , C & Song , M 2022 , ' Economic performance under different monetary policy frameworks ' , Journal of Policy Modeling , vol. 44 , no. 2 , pp. 431-449 .
dc.identifier.otherPURE: 279193128
dc.identifier.otherPURE UUID: a71d3be6-65de-43e5-b454-d5f36915a6bb
dc.identifier.otherRIS: urn:954196CC93B085DF05366032F1F22044
dc.identifier.otherScopus: 85127523143
dc.identifier.otherORCID: /0000-0001-6505-3347/work/114023237
dc.identifier.otherWOS: 000848077500011
dc.description.abstractWe examine the economic performance (inflation and growth) associated with different monetary policy frameworks, presenting unconditional and conditional analyses, and using predictions of countries’ monetary policy framework choices to address the issue of endogeneity. We find some differences in performance associated with the different monetary policy frameworks, together with a general improvement over time which is explained in part by the trends towards inflation targeting and more precise monetary control, that is from changes in the choice of framework, but in part, and perhaps more strongly, reflects a more general trend towards better economic performance related to changes in decision-making within the frameworks. Our results suggest that the choice of MPF is an important, but by no means the only, determinant of economic performance, and therefore not the only consideration for policymakers looking to improve economic performance.
dc.relation.ispartofJournal of Policy Modelingen
dc.rights© 2022 The Authors. Published by Elsevier Inc. on behalf of The Society for Policy Modeling. Open Access article licensed under Creative Commons Attribution CC-BY 4.0.en
dc.subjectEconomic growthen
dc.subjectExchange rate targetingen
dc.subjectInflation targetingen
dc.subjectMonetary policy frameworken
dc.subjectHG Financeen
dc.subjectSDG 8 - Decent Work and Economic Growthen
dc.titleEconomic performance under different monetary policy frameworksen
dc.typeJournal articleen
dc.description.versionPublisher PDFen
dc.contributor.institutionUniversity of St Andrews. School of Economics and Financeen
dc.description.statusPeer revieweden

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