Abstract

TABOADA, Santiago  and  LIBMAN, Emiliano. STICKY INFLATIONARY EXPECTATIONS AND INFLATION TARGETING IN (SOME) EMERGING AND LESS DEVELOPED ECONOMIES. Cuad. Econ. [online]. 2021, vol.40, n.82, pp.83-111.  Epub Mar 01, 2021. ISSN 0121-4772.  https://doi.org/10.15446/cuad.econ.v40n82.79547.

We describe the experience of some economies that struggle to consolidate Inflation Targeting. We document the resilience of inflationary expectations during the first years after adoption by Israel, Brazil, Guatemala, Mexico, South Africa, and Turkey. The benchmark case of New Zealand is also described, and the experience of Argentina is presented as one of the few examples where Inflation Targeting failed and was eventually abandoned.

JEL: E31, E50, E52, E58.

Keywords : Inflation targeting; expected inflation; Taylor-rules.

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