Inflation targeting (IT) has gained much traction over the past two decades, becoming a framework of reference for the conduct of monetary policy. However, the debate about its very merits and macroeconomic consequences remains inconclusive. This paper digs deeper into the issue through a meta-regression analysis (MRA) of the existing literature, making it the first application of a MRA to the macroeconomic effects of IT adoption. Building on 8,059 estimated coefficients from a very broad sample of 113 studies, the paper finds that the empirical literature suffers from two types of publication bias. First, authors, editors and reviewers prefer results featuring beneficial effects of IT adoption on inflation volatility, real GDP growth and fiscal performances; second, they promote results with estimated coefficients that are significantly different from zero. However, after filtering out the publication biases, we still find meaningful (genuine) effects of IT in reducing inflation and real GDP growth volatility, but no significant genuine effects on inflation volatility and the level of real GDP growth. Interestingly, the results indicate that the impact of IT varies systematically across studies, depending on the sample structure and composition, the time coverage, the estimation techniques, country-specific factors, IT implementation parameters, and publication characteristics.
Destined to become the most popular guide to the trails of Connecticut, including the mountains and lush woodlands of the west, the fertile Connecticut River Valley, and the famously beautiful eastern shoreline. AMC Nature Walks guides rake a holistic view of the landscape -- everything along the trail, each formation, field, and tree has a story to tell. While you walk, learn about the mobbing behavior of birds, beavers and the fur trade, volcanoes, the history of Tory Den, and more!
The perfect companion for a stroll in the Berkshire hills and fields. The book describes facilities, geological & physical highlights, plant communities, and animals, including mammals, birds, reptiles, amphibians, and fish for 33 sites in a clear, simple, easy to use format. This guide also covers wildlife observation tips, seasonal highlights, and Berkshire natural history, and includes detailed maps, illustrations and directions.
Destined to become the most popular guide to the trails of Connecticut, including the mountains and lush woodlands of the west, the fertile Connecticut River Valley, and the famously beautiful eastern shoreline. AMC Nature Walks guides rake a holistic view of the landscape -- everything along the trail, each formation, field, and tree has a story to tell. While you walk, learn about the mobbing behavior of birds, beavers and the fur trade, volcanoes, the history of Tory Den, and more!
AMC's Best Day Hikes in Connecticut takes you through 50 of the best hikes for all skill levels across the state. Ideal for families, tourists, and locals alike, this easy-to-use guide helps you explore both tucked-away gems and regional favorites, including sections of the Appalachian Trail in the west and oceanside walks along the coast. A comprehensive revision of the previous editions, this title also includes new hikes, such as Zoar Trail, Ragged Mountain, Bafflin Sanctuary, Case Mountain, and Nyantaquit Loop Trail. All descriptions of previously featured trails have been updated to reflect the most recent expansions and reroutings, highlighting the best hikes statewide. Now available in full color for the first time!
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