Exchange Rate Targeting Versus Inflation Targeting: Empirical Analysis of the Impact on Employment and Economic Growth

1. Abu Asab, N., Cuestas, J.,C. and Montagnoli, A. (2018). Inflation targeting or exchange rate targeting: Which framework supports the goal of price stability in emerging market economies? Sheffield Economic Research Paper Series.10.1371/journal.pone.0201798Search in Google Scholar

2. Barnebeck Andersen, T., Malchow-Møller, N. and Nordvig, J. (2015). Inflation targeting and macroeconomic performance since the Great Recession. Oxford Economic Papers.10.1093/oep/gpv024Search in Google Scholar

3. Bhar, R. and Mallik, G. (2013). Inflation uncertainty, growth uncertainty, oil prices, and output growth in the UK. Empirical Economics.10.1007/s00181-012-0650-9Search in Google Scholar

4. Buut, U. (2018) Inflation Expectations in Turkey: Determinants and Roles in Missing Inflation Targets, Journal of Central Banking Theory and Practice, vol 7, no 3, pp 73-90.10.2478/jcbtp-2018-0024Search in Google Scholar

5. Bussiere, M., Lopez, C. and Tille, C. (2014). Do real exchange rate appreciations matter for growth? Graduate Institute of International and Development Studies, Working Paper No. 6., Munich Personal REPEC Arhive.10.1093/epolic/eiu005Search in Google Scholar

6. Cuestas J.C., Gil-Alana L.A., Taylor K. Inflation convergence in Central and Eastern Europe vs the Eurozone: non-linearities and long memory. (2016). Scottish Journal of Political Economy.10.1111/sjpe.12114Search in Google Scholar

7. Daboussi, M. O. (2014). Economic performance and inflation targeting in developing economies. Journal of World Economic Research.10.11648/j.jwer.20140301.11Search in Google Scholar

8. Di Nino, V., Eichengreen, B. and Sbracia, M. (2011). Real Exchange Rates, Trade, and Growth: Italy 1861-2011. Bank of Italy Economic History, Working Papers No. 10.10.2139/ssrn.2236718Search in Google Scholar

9. Ehrmann, M. (2015). Targeting Inflation from Below: How Do Inflation Expectations Behave?. International Journal of Central Banking, 11 (4)..Search in Google Scholar

10. Evans, C.L. (2012). Monetary Policy in a Low Inflation Environment: Developing a State Contingent Price Level Target. Journal of Money, Credit and Banking, Vol. 44, No. 2.10.1111/j.1538-4616.2011.00482.xSearch in Google Scholar

11. Fabris, N. (2018) Challenges for Modern Monetary Policy, Journal of Central Banking Theory and Practice, vol 7, no 2, pp 5-24.10.2478/jcbtp-2018-0010Search in Google Scholar

12. Fabris, N and Vujanovic, N. (2017) The Impact of Financial Dollarization on Inflation Targeting: Empirical Evidence from Serbia, Journal of Central Banking Theory and Practice, vol 6, no 2, pp 23-43.10.1515/jcbtp-2017-0011Search in Google Scholar

13. Fry-McKibbin, R.A. and Wang, C. (2014). Does Inflation Targeting Outperform Alternative Policies during Global Downturns? CAMA Working Paper No. 64.10.2139/ssrn.2510161Search in Google Scholar

14. Ghosh, A.R., Ostry, J.D. and Qureshi, M.S. (2014). Exchange rate management and crisis susceptibility: A reassessment. IMF Working Paper Series, WP/14/11.10.5089/9781484383971.001Search in Google Scholar

15. Habib, M.M., Mileva, E. and Stracca, L. (2016). The real exchange rate and economic growth: revisiting the case using external instruments. Working Paper Series ECB.10.2139/ssrn.2797378Search in Google Scholar

16. Krušković, B.D. (2014). “Monetary Strategies, Exchange Rate and Foreign Exchange Reserves”. Economics Faculty in Banjaluka.Search in Google Scholar

17. Krušković, B.D., Maričić, T. (2014). “Empirical Analysis of the Impact of Inflation Targeting on the Risk Premium”. Journal of Central Banking Theory and Practice.10.2478/jcbtp-2014-0016Search in Google Scholar

18. Maduku, H. and Kaseeram, I. (2018). Inflation Targeting Monetary Policy and Unemployment in South Africa. Journal of Economics and Behavioral Studies, Vol. 10, No. 4.10.22610/jebs.v10i4(J).2410Search in Google Scholar

19. Ncube, M. and Ndou, E. (2011). Inflation Targeting, Exchange Rate Shocks and 0utput: Evidence from South Africa. African Development Bank Group, Working Paper No. 134.Search in Google Scholar

20. Rey, H. (2015). Dilemma not trilemma: The global financial cycle and monetary policy independence. NBER Working Paper No. 21162.10.3386/w21162Search in Google Scholar

21. Rose, A. K. (2011). Exchange rate regimes in the modern era: Fixed, floating and flaky. Journal of Economic Literature, 49(3).10.1257/jel.49.3.652Search in Google Scholar

22. Svensson, L.E O. (2016a). Cost-Benefit Analysis of Leaning Against the Wind: Are Costs Larger Also with Less Effective Macroprudential Policy? Working Paper No. 21902, National Bureau of Economic Research.10.2139/ssrn.2754934Search in Google Scholar

23. Svensson, L. (2015). The Possible Unemployment Cost of Average Inflation below a Credible Target. American Economic Journal.10.1257/mac.20130176Search in Google Scholar

24. Yamada, H. (2013). Does the exchange rate regime make a difference in inflation performance in developing and emerging countries? The role of inflation targeting. Journal of International Money and Finance.10.1016/j.jimonfin.2012.08.003Search in Google Scholar

25. Wong, C-H., Clifton, E.V. and Leon, G.L. (2001). Inflation Targeting and the Unemployment-Inflation Trade-off. IMF Working Paper No. 01/166. 2-546.10.5089/9781451858105.001Search in Google Scholar