هدف قرار دادن تورم و ثبات مالی: آیا کیفیت موسسات مهم است؟
|تعداد صفحات مقاله انگلیسی
|15 صفحه PDF
نسخه انگلیسی مقاله همین الان قابل دانلود است.
هزینه ترجمه مقاله بر اساس تعداد کلمات مقاله انگلیسی محاسبه می شود.
این مقاله تقریباً شامل 9883 کلمه می باشد.
هزینه ترجمه مقاله توسط مترجمان با تجربه، طبق جدول زیر محاسبه می شود:
Publisher : Elsevier - Science Direct (الزویر - ساینس دایرکت)
Journal : Economic Modelling, Volume 71, April 2018, Pages 1-15
Inflation targeting (IT) has recently been seen as one of the main causes of the authoritiesâ unresponsiveness to the build up of financial imbalances during the recent financial crisis. We take data from banks from 66 countries for the period of 1998-2014 and compare how institutional quality as perceived by the national population impacts financial stability in countries that adopted IT with those that did not. We find that, while banks from IT countries with high quality of institutions do not have their stability significantly enhanced by this policy (the âparadox of credibilityâ), countries with average levels of quality of institutions seem to benefit from it. In addition, in the estimations, IT and financial stability are negatively associated in countries with low levels of institutional quality, which is consistent with the fact that governments must have at least some trust of their population in order to conduct effective economic policies. This inverted U-shaped relationship between IT and financial stability as function of the institutional quality reflects the two opposing views in the literature regarding this topic.