A Markov Switch to Inflation Targeting in Emerging Market Peggers with a Focus on the Czech Republic, Poland and Hungary 72 FOCUS ON EUROPEAN ECONOMIC INTEGRATION Q3/11 Goldfeld, S. M. and R. E. Quandt. 1973. A Markov Model for Switching Regressions. In: Journal of Econometrics 1. 3â16.
A Markov Switch to Inflation Targeting in Emerging Market Peggers with a Focus on the Czech Republic, Poland and Hungary FOCUS ON EUROPEAN ECONOMIC INTEGRATION Q3/11 73 Svensson, L. O. 1998. Inflation Targeting in an Open Economy: Strict or Flexible Inflation Targeting ? Public Lecture held at Victoria University of Wellington, New Zealand. November 18, 1997. In: Victoria Economic Commentaries 15-1.
Ang, A. and G. Bekaert. 2002. International Asset Allocation with Regime Shifts. In: Review of Financial Studies 15(4). 137â187.
- Ball, L. and N. Sheridan. 2005. Does Inflation Targeting Matter? In: The Inflation Targeting Debate. Edited by B. S. Bernanke and M. Woodford. University of Chicago Press for the National Bureau of Economic Research. 249â276.
Paper not yet in RePEc: Add citation now
Cecchetti, S. G. and M. Ehrmann. 1999. Does Inflation Targeting Increase Output Volatility? An International Comparison of Policymakersâ Preferences and Outcomes. In: NBER Working Papers 7426.
Cecchetti, S. G., P. S. Lam and N. C. Mark. 1990. Mean Reversion in Equilibrium Asset Prices. In: American Economic Review 80. 398â418.
Chang, R. and A. Velasco. 2000. Exchange Rate Policy for Developing Countries. In: American Economic Review 90(2). 71â75.
Clarida R, J. Galà and M. Gertler. 2000. Monetary Policy Rules and Macroeconomic Stability: Evidence and Some Theory. In: Quarterly Journal of Economics 115. 147â180.
Creel, J. and P. Hubert. 2009. Has the Adoption of Inflation Targeting Represented a Regime Switch? Empirical evidence from Canada, Sweden and the UK. In: Documents de Travail de lâOFCE No. 2008â25.
Davies, R. B. 1987. Hypothesis testing when a nuisance parameter is present only under the alternative. In: Biometrika 74. 33â43.
Debelle, G. 1999. Inflation Targeting and Output Stabilization. In: Research Discussion paper 1999-08. Reserve Bank of Australia. 1-25.
- Dempster, A. P., N. M. Laird and D. B. Rubin. 1977. Maximum likelihood from incomplete data via the EM algorithm. In: Journal of the Royal Statistical Society: Series B, 39(1), 1â38.
Paper not yet in RePEc: Add citation now
Diebold, F. X. and G. D. Rudebusch. 1996. Measuring Business Cycles: A Modern Perspective. In: Review of Economics and Statistics 78. 67â77.
- Doornik, J. A. and D. F. Hendry. 2009. Part VI: Regime Switching Models (Switching). In: PcGive 13: Volume III. Doornik, J. A. and D.F. Hendry (eds.). London: Timberlake Consultants Ltd. 129â156.
Paper not yet in RePEc: Add citation now
Eichengreen, B., P. Masson, M. Savastano and S. Sharma. 1999. Transition Strategies and Nominal Anchors on the Road to Greater Exchange Rate Flexibility. In: Essays in International Finance 213. Princeton University.
Frankel, J. A. 1979. On the Mark: A Theory of Floating Exchange Rates Based on Real Interest Differentials. In: American Economic Review 69(4). 610â622.
Goldstein, M. 2002. Managed Floating Plus. Policy Analyses in International Economics. Institute for International Economics. Washington, D.C. Hamilton, J. D. 1989. A New Approach to the Economic Analysis of Nonstationary Time Series and the Business Cycle. In: Econometrica 57(2). 357â384.
- Hamilton, J. D. 1994. Time Series Analysis. Princeton: Princeton University Press.
Paper not yet in RePEc: Add citation now
Hammond, G. 2009. State of the Art of Inflation Targeting. In: CCBS Handbook 29.
Hrncir, M. and K. Smidkova. 2004. Inflation targeting in the Czech Republic. Mimeo.
Kim, C. J., J. Piger and R. Startz. 2008. Estimation of Markov Regime Switching Regression Models with Endogenous Switching. In: Journal of Econometrics 143. 263â273.
- Krolzig, H. M. 1998. Econometric Modelling of Markov-Switching Vector Autoregressions using MSVAR for Ox. Working paper of the Institute of Economics and Statistics and Nuffield College. University of Oxford.
Paper not yet in RePEc: Add citation now
Leiderman, L., R. Maino and E. Parrado. 2006. Inflation Targeting in Dollarized Economies. In: IMF Working Paper 157.
- Maddala, G. S. and I. M. Kim. 1998. Regime Switching Models and Structural Time-series Models. In: Unit roots, Cointegration and Structural Change. Maddala, G.S. and I.M. Kim (eds.). Cambridge University Press. 454â485.
Paper not yet in RePEc: Add citation now
Mishkin, F. S. and A. S. Posen. 1998. Inflation Targeting: Lessons from Four Countries. In: Economic Policy Review 3(3). 9â110.
Mohanty, M. S. and M. Klau. 2005. Monetary Policy Rules in Emerging Market Economies: Issues and Evidence. In: Monetary Policy and Macroeconomic Stabilization in Latin America. Laughammer, R. J. and L. Vinhas de Souza (eds.). Springer Berlin Heidelberg.
- PÃtursson, T. G. 2004. Formulation of Inflation Targeting around the World. In: Monetary Bulletin 2004/1. 57â84.
Paper not yet in RePEc: Add citation now
Pelagatti, M. 2008. Duration Dependent Markov-Switching Vector Autoregression: Properties, Bayesian Inference, Software and Application. In: Business Fluctuations and Cycles. T. Nagakawa (ed.). Nova Science Publishers. Hauppauge N.Y. 43â46.
Petreski, M. 2009a. A critique on inflation targeting. In: CEA Journal of Economics 4(2). 11â25.
Petreski, M. 2009b. Analysis of Exchange-Rate Regime Effect on Growth: Theoretical Channels and Empirical Evidence with Panel Data. In: Economics Discussion Paper No. 2009-49. 1â31.
Petreski, M. 2010. Exchange-rate regime and output volatility: Empirical investigation with panel data. In: International Journal of Money and Banking 3(1). 69â99.
- Pruski, J. 2002. Poland as an Example of Successful Transition from Inflation Targeting Lite to Fully Fledged Inflation Targeting. Paper presented at the IMF conference âChallenges to Central Banking from Globalized Financial Systemsâ in Washington, D.C. September 16 and 17, 2002.
Paper not yet in RePEc: Add citation now
Ravn, M. O. and M. Sola. 1995. Stylized Facts and Regime Changes: Are Prices Procyclical? In: Journal of Monetary Economics 36. 497â526.
Reinhart, C. and K. S. Rogoff. 2004. The Modern History of Exchange Rate Arrangements: A Reinterpretation. In: Quarterly Journal of Economics 119(1). 1â48.
Roger, S. 2009. Inflation Targeting at 20: Achievements and Challenges. In: IMF Working Papers 09/236.
Rudebusch, G. 2002. Term Structure Evidence on Interest Rate Smoothing and Monetary Policy Inertia. In: Journal of Monetary Economics 49. 1161â1187.
Sims, C. A. and T. Zha. 2006. Were there Regime Switches in US Monetary Policy? In: American Economic Review 36(1). 54â81.
Svensson, L. O. 2000. Open-Economy Inflation Targeting. In: Journal of International Economics 50. 155â183.
Taylor, J. B. 1993. Discretion Versus Policy Rules in Practice. In: CarnegieâRochester Conference Series on Public Policy 39. 195â214.
Taylor, J. B. 2001. The Role of the Exchange Rate in Monetary Policy Rules. In: American Economic Review Papers and Proceedings 91. 263â267.
- Tong, H. 1983. Threshold models in non-linear time series analysis. Springer. New York.
Paper not yet in RePEc: Add citation now
- VÃzquez, J. 2008. Does the Term Spread Play a Role in the Fed Funds Rate Reaction Function? An Empirical Investigation. In: Empirical Economics 36. 175â199.
Paper not yet in RePEc: Add citation now
Valente, G. 2003. Monetary Policy Rules and Regime Shifts. In: Applied Financial Economics 13(7). 525â535.