Does inflation targeting reduce sovereign risk? Further evidence

被引：12

作者：

Thornton, John ^{[1
]}

Vasilakis, Chrysovalantis ^{[1
,2
]}

机构：

[1] Bangor Univ, Sch Business, Bangor LL57 2DG, Gwynedd, Wales

[2] Catholic Univ Louvain, Inst Rech Econ & Social, Louvain, Belgium

来源：

FINANCE RESEARCH LETTERS | 2016年 / 18卷

关键词：

Inflation targeting; Sovereign risk premia; Treatment effect; Propensity score matching; DIFFERENCE; POLICY;

D O I：

10.1016/j.frl.2016.04.022

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

We examine whether adopting an inflation-targeting regime helps reduce sovereign risk premia in a sample of 64 advanced and developing countries for the period 1985-2012. We address the self-selection problem of policy adoption by applying a variety of propensity score matching methods. The results provide evidence that inflation targeting lowers sovereign risk. (C) 2016 Elsevier Inc. All rights reserved.

引用

页码：237 / 241

页数：5

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