政大機構典藏-National Chengchi University Institutional Repository(NCCUR):Item 140.119/60338

政大機構典藏-National Chengchi University Institutional Repository(NCCUR):Item 140.119/60338

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政大典藏 > College of Social Science > Department of Economics > Theses > Item 140.119/60338

Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/60338

Title:	釘住通貨膨脹政策之影響-動態分量迴歸之應用 The effect of inflation targeting policy - The application of dynamic quantile regression
Authors:	陳敬翔
Contributors:	林馨怡陳敬翔
Keywords:	通貨膨脹率釘住通貨膨脹政策
Date:	2010
Issue Date:	2013-09-05 14:21:16 (UTC+8)
Abstract:	貨幣政策為中央銀行控制經濟情勢最主要的工具。1990年紐西蘭成為第一個採取釘住通貨膨脹率政策的國家，許多經濟學家開始認為釘住通貨膨脹率政策為最適當的貨幣政策。本論文利用Lin(2010)動態追蹤資料分量迴歸,分析釘住通貨膨脹率政策對通貨膨脹率，經濟成長，通貨膨脹率之波動和經濟成長之波動的影響。本論文以103個國家在1960-2010年的追蹤資料為例,實證結果發現，通貨膨脹率水準高的國家，釘住通貨膨脹率政策降低通貨膨脹率水準的效果愈強且顯著，而經濟成長高的國家則必須損失經濟成長作為代價，並且可以穩定通貨膨脹率和經濟成長之波動。此結果應證了Ball and Sheridan(2003)提到通貨膨脹率愈高的國家,降低愈多的通貨膨脹率水準。在考慮經濟成長和通貨膨長之抵換關係後，釘住通貨膨脹率政策在高通貨膨脹率的國家能夠有效降低通貨膨脹率水準。另外,在OECD國家和新興市場也得到類似的結論。
Reference:	Ball, L. and Sheridan, N. (2003). Does Inflation Targeting Matter? NBER working paper series,No.9577. Batini, N. and Laxton, D. (2007). Under what Conditions Can Inflation Targeting Be Adopted? The Experence Of Emerging Markets. working paper series. Bernanke, B. and Mihov, I. (1998). Measuring Monetary Policy. The Quarterly Journal of Economics,Vol. 113, No. 3., pp. 869-902. Bernanke, B., Laubach, T., Mishkin, F., Posen, A. (1999). Inflation targeting: lessons from the international experience. Princeton University Press, Princeton. Brito, R. and Bystedt, B. (2010). Inflation targeting in emerging economies: Panel evidence. Journal of Development Economics, 91, 198-210. Carare, A. and Stone, M. (2006). Inflation targeting regimes European Economic Review, 50, 1297-1315. Galvao, A. (2008). Quantile Regression for Dynamic Panel Data. working papers. Filho, I. (2010). Inflation Targeting and the Crisis: An Empirical Assessment. IMF working papers. Goncalves, C. and Carvalho, A. (2009). Inflation Targeting Matters: Evidence from OECD Economies` Sacrifice Ratios. Journal of Money, Credit and Banking, Vol. 41, No. 1. Goncalves, C. and Salles, J. (2008). Inflation targeting in emerging economies:What do the data say?. Journal of Development Economics, 85, 312-318. Im, K. S., Pesaran, M. H. and Shin, Y. (2003). Testing for unit roots in heterogeneous panels. Journal of Econometrics, 115, 53-74. International Monetary Fund (IMF), (2006). Inflation targeting and the IMF. IMF, Washington. IMF, Washington. Koenker, R. (1978). Regression Quantiles. Econometrica, Vol.46, No.1, pp.33-50. Koenker, R. and Machado, J. (1999). Goodness of fit and related inference processes for quantile regression. Journal of American Statistical Association, Vol.94, No.48, 1296-1310. Koenker, R. (2004). Quantile regression for longitudinal data. Journal of Multivariate Analysis,91, 74-89. Koenker, R. (2005). Quantile Regression. Cambridge university press. Lamarche, C. (2006), Robust Penalized Quantile Regression Estimation for Panel Data, Working Paper, University of Oklahoma. Levin, A., Lin, C.-F. and Chu, C.-S. J. (2002). Unit root tests in panel data: Asymptotic and finite-sample properties. Journal of Econometrics, 1-24. Levin, A. , Natalucci F. and Piger J. (2004). The Macroeconomic Effects of Inflation Targeting. Federal Reserve Bank of St. Louis Review, 86(4), pp. 51-80. Lin, S. and Ye, H. (2009). Does inflation targeting really make a difference? Evaluating the treatment effect of inflation targeting in seven industrial countries. Journal of Monetary Economics, 54, 2521-2533. Lin, S. and Ye, H. (2009). Does inflation targeting make a difference in developing countries? Journal of Development Economics, 89, 118-123. Lin, H. (2010). Endogeneity in panel data quantile regression models: a fitted value approach. mimeo, National Chengchi University. Maddala, G. S and Kim, In-Moo (1998). Unit Roots, Cointergration, and Structral Change. Cambridge Universiti Press. Masson, Paul R., Savastano, Miguel A. and Sharma, Sunil. (1997). The Scope for Inflation Targeting in Developing Countries. IMF Working Paper, 97-130. Mankiw, N. Gregory. (2001). U.S. Monetary Policy During 1990s. NBER Working Paper, No. 8471. Mishkin, Frederic S. (1996). Understanding Financial Crises: A Developing Country Perspective. Annual World Bank Conference on Development Economics, 29-62. Mishkin, Frederic S. (1999). Lessons from the Asian Crisis. Journal of International Money and Finance, 18(4): 709-723. Mishikin, F. (2000). Inflation Targeting In Emerging Market Countries. Working papers. Mishikin, F. (2004). Why The Federal Reserve Should Adopt Inflation Targeting. Working papers. Mishikin, F. (2004). Can Inflation Targeting Work In Emerging Market Countries? Working papers. Mishikin, F. and Schmidt-Hebbel, K. (2007). Does inflation targeting make a difference? Working papers. Neumann, M and Hagen, J. (2002). Does Inflation Targeting Matter? FeferalL Reserve Bank Of ST. Louis. O`Connell, Paul G. J (1998). The overvaluation of purchasing power parity. Journal of International Economics, 44(1), 1-19. Pesaran, M Hasem (2006). A simple panel unit root test in the presence of cross section dependence. working paper, Department of Economics, Cambridge University. Roger, S. (2010). Inflation targeting turns 20. Finance and Development. Romer, D. (2006). Advanced macroeconomics. McGraw-Hill, Irwin, New York. Svensson, L. (1997).Inflation Forecast Targeting: Implementing and Monitoring Inflation Targets. European Economic Review. Willard, L. (2006).Does Inflation Targeting Matter? A Reassessment. CEPS Working Paper, No.120. Wu, T. (2004).Does Inflation Targeting Reduce Inflation? An Analysis for the OECD Industrial Countries. Working Paper
Description:	碩士國立政治大學經濟學系 98258029 99
Source URI:	http://thesis.lib.nccu.edu.tw/record/#G0098258029
Data Type:	thesis
Appears in Collections:	[Department of Economics] Theses

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