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Inflation Targeting did Make a Difference in Industrial Countries’ Inflation and Output Growth

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Academic year: 2019

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Table 1 - Countries studied and dates of inflation targeting adoption (1) (2) (3) (4) (5) (6) Australia 1984-1999 1971-1999 1985-2001 1980-2009 1995 1994 Austria 1984-1999 1971-1999 1985-1998 1980-1998 Belgium 1984-1999 1971-1999 1985-1998 1980-1998 Canada
Table 2 - Estimates of the controlled adaptive Phillips curve equation (6) - rates in %
Table 3 - Estimates of the parsimonious adaptive Phillips curve equation (7) - rates in %
Table 4 - Estimates of the volatility equations  (1) - rates in % Dependent variable: LSDV DGMM-S LSDV DGMM-S LSDV DGMM-S LSDV DGMM-S (1) (2) (3) (4) (5) (6) (7) (8) -0.31 -0.27 -0.55* -0.52* -0.16 -0.10 -0.30 -0.29* (0.28) (0.22) (0.30) (0.28) (0.23) (0.2
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