Economic performance under different monetary policy frameworks

We examine the economic performance (inflation and growth) associated with different monetary policy frameworks, presenting unconditional conditional analyses, using predictions of countries’ framework choices to address issue endogeneity. find some differences in together a general improvement over time which is explained part by trends towards inflation targeting more precise control, that from changes choice framework, but part, perhaps strongly, reflects trend better related decision-making within frameworks. Our results suggest MPF an important, no means only, determinant performance, therefore not only consideration for policymakers looking improve performance.