Inflation targeting: a comparative analysis between point, range and point with range inflation targeting

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dc.contributor.authorMasikane, Siphiwe Jeanette
dc.date.accessioned2022-09-20T11:06:55Z
dc.date.available2022-09-20T11:06:55Z
dc.date.issued2021
dc.descriptionA research report submitted to the School of Economics and Finance, Faculty of Commerce, Law and Management, University of the Witwatersrand, in partial fulfilment of the degree of Master of Commerce, 2021en_ZA
dc.description.abstractThis research analyses the performance of three types of inflation targeting, i.e., point targeting, range targeting and point with range targeting. Inflation targeting countries are grouped according to their target type (Treatment group) and compared against non-targeting countries (Control group). The difference and difference model (DID) is used to compute the statistical analyses and to assess performance in respect of average inflation and inflation volatility. The result shows a significant decrease in the average inflation rate in targeting and non-targeting countries. The regressed average inflation rate reduced more under point targeting than under range and point with range targeting. An assessment of inflation volatility finds that the magnitude of the change in volatility is significantly higher in range targeting than in point and point with range targeting. The implications of these results show that countries which plan to introduce inflation targeting for the first time should opt for point targeting from a perspective of reducing inflation and anchoring expectations. On the other hand, countries which aim for low overall inflation volatility should opt for range targeting from a perspective of range flexibility and fostering credibilityen_ZA
dc.description.librarianCK2022en_ZA
dc.facultyFaculty of Commerce, Law and Managementen_ZA
dc.identifier.urihttps://hdl.handle.net/10539/33249
dc.language.isoenen_ZA
dc.schoolSchool of Economics and Financeen_ZA
dc.titleInflation targeting: a comparative analysis between point, range and point with range inflation targetingen_ZA
dc.typeThesisen_ZA
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