01799cas a2200241 a 4500 AALejournalIMF005913 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451872958 1018-5941 BD-DhAAL BD-DhAAL Miao, Yanliang. In Search of Successful Inflation Targeting : Evidence From An Inflation Targeting Index / Yanliang Miao. Washington, D.C. : International Monetary Fund, 2009. 1 online resource (35 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students In a first attempt to treat inflation targeting (IT) as a continuous variable, we construct IT subindices for 21 full-fledged ITers on three dimensions: flexibility, transparency, and explicitness. Comparing flexibility and transparency we find that (1) the impact of flexibility on both the mean and variation of inflation is more quadratic than that of transparency; (2) after adding the transparency index, the impact of flexibility is no longer significant. The significant and negative association between transparency and the level and variation of inflation is confirmed when we check for robustness by controlling for disinflation stage, subsampling, instrumental variable estimation, and principal component analysis (PCA). Mode of access: Internet IMF Working Papers; Working Paper ; No. 2009/148 Full text available on IMF http://elibrary.imf.org/view/journals/001/2009/148/001.2009.issue-148-en.xml IMF e-Library