The editorial board of the journal Contemporary Economic Policy has awarded the prize for Best Paper of 2014 to prof.dr. Jakob de Haan and dr. Anna Samaryna of the Faculty of Economics and Business. The prizewinning article is titled: “Right On Target: Exploring The Factors Leading To Inflation Targeting Adoption” and was published in April 2014 (vol. 32, issue 2).
The article will be available for download free of charge for the next three months. On the conference of the Western Economic Association International in June 2015 in Hawaii the prize will be awarded.
The published research of De Haan and Samaryna focuses on the question which countries are likely to adopt inflation targeting (IT) as their monetary policy strategy. They took into account the economic, fiscal, external, financial, and institutional characteristics of the countries. The research sample of 60 countries consistied of both OECD (Organization for Economic Cooperation and Development) and non-OECD countries over the period 1985–2008. The factors that have a significant impact on the likelihood to adopt IT are past macroeconomic performance of a country, its fiscal discipline, exchange rate arrangements, as well as the structure and development of its financial system. However, the factors leading to IT adoption differ significantly between OECD and non-OECD countries.
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