Inflation Targeting Performance in Early Adopter Countries

Dueker and Fischer's 1996 study matched three early inflation-targeting countries—New Zealand (1990), Canada (1991), and the United Kingdom (1992)—with three non-targeting neighbors for comparison. The dataset updates this empirical evidence, examining whether formal inflation targets create a greater aversion to inflation and its variability. It supports analysis of central bank performance, inflation expectations, and the interaction between monetary and exchange rate policy.

Use Cases

• Comparing inflation outcomes between targeting and non-targeting countries based on the matched-pair design.
• Analyzing central bank performance in achieving announced inflation targets.
• Studying the effect of inflation targeting regimes on inflation expectations.
• Investigating links between inflation targeting policy and exchange rate dynamics.

Strengths

• Focuses on a foundational matched-pair research design comparing three early adopters with three control countries.
• Updates empirical evidence from a seminal 1996 study, providing a basis for re-evaluation.

Limitations

• Specific column names, row counts, and dataset size are unknown from the provided sources.
• The license is listed as 'closed', restricting access and reuse.
• The last update date is unknown, raising questions about data freshness.

Provenance

Source

Michael J. Dueker, Federal Reserve Bank of St. Louis

Collection Method

Likely compiled from national economic statistics and central bank reports for the matched countries.

Time Range

Covers periods around the early 1990s adoption dates and likely subsequent years for comparison.

Geography

Six industrialized countries: New Zealand, Canada, United Kingdom, Australia, United States, Germany.