03564ntm a22005057i 4500 000347054 CZ-PrVSE 20170216225051.0 m d cr n|||||||||| 170216s2017 xr fsbm 000 0 eng d NEZPRACOVANÝ IMPORT ABA006 cze ABA006 ABA006 rda Kamarád, Martin ISIS:85733 dis Output-Inflation Trade-off After a Quarter of a Century of Inflation Targeting eng OUTPUT-INFLATION TRADE-OFF AFTER A QUARTER OF A CENTURY OF INFLATION TARGETING / Martin Kamarád 2017 ?? stran : digital, PDF soubor Vedoucí práce: Pavel Potužák Diplomová práce (Ing.)—Vysoká škola ekonomická v Praze. Národohospodářská fakulta, 2017 Obsahuje bibliografii Textový (vysokoškolská kvalifikační práce) Rok obhajoby 2017 This thesis estimates the treatment effect of inflation targeting adoption on inflation, inflation variability, output, and output variability for 25 explicit inflation targeting countries. I implement the propensity score matching methodology that takes into account the problems of non-experimental nature, such as selection bias or selection on observable, and allows me to effectively mimic properties of randomized experiment and compute unbiased treatment effect estimates. I introduce a variety of propensity score matching methods that were recently developed in the treatment effect literature, including Nearest Neighbor, Radius matching, Kernel matching, and Inverse Probability Weighting. The results indicate that both industrial and developing inflation targeting countries exhibit lower inflation levels and at the same time higher output growth than non-targeting countries. The estimates are however in most cases statistically insignificant. Moreover, it appears that both industrial and developing countries achieve combination of lower inflation variability and output variability compared to non-targeting countries. Nonetheless, majority of the estimates are again statistically insignificant. The results are to a small extent sensitive to the choice of propensity score matching method. Radius matching with tight calipers (r=0.005, r=0.001) tends to provide the most reliable estimates. Balancing properties of the models are reasonable and compared to the previous research the standardised biases are quantitatively better. Způsob přístupu: Internet ekonomická analýza [obor dipl. práce] diplomové práce fd132022 czenas master's theses eczenas Propensity score matching Output-Inflation Trade-off Inflation targeting Phillips curve Potužák, Pavel vse20231203939 ths Kadeřábková, Božena jn20010309853 opn Vysoká škola ekonomická v Praze. Národohospodářská fakulta kn20010709401 dgg https://insis.vse.cz/zp/58532/podrobnosti VŠKP v InSIS https://insis.vse.cz/zp/58532 Hlavní práce https://insis.vse.cz/zp/58532/posudek/vedouci Hodnocení vedoucího https://insis.vse.cz/zp/58532/posudek/oponent/50499 Oponentura https://insis.vse.cz/zp/58532/podrobnosti dc:identifier NEPOSILAT VSKP vse58532 170207 58532