Sanayileşmiş ülkelerde enflasyon hedeflemesi fark yaratıyor mu

After it was first adopted by the New Zealand in 1989, inflation targeting (IT)has became quite popular and several other countries have started to design theirmonetary policy strategies within the IT framework. In the literature, there areconsiderable amount of studies which discuss the underlying reasons of thepopularity of IT and several of them come up with the conclusion that the increasedmacroeconomic performance of 1990s is attributable to the IT regime. In this thesis,we will try to discover the differing characteristics of the IT and non-IT countries interms of their revealed aversion to inflation variability which is proposed inCecchetti and Ehrmann (2000) (CE). Furthermore, we will investigate whether thepath followed by the inflation in the aftermath of a demand shock for IT and non-ITcountries are different from each other. All measures which we will be analyzed inthis thesis will be estimated from a semi-structural dynamic time series model usingextended Kalman filtering techniques.