Comment on "Flexible Inflation Targeting and Macroeconomic Performance: Evidence from ASEAN".

This article discusses the adoption of flexible inflation targeting (FIT) in Thailand, the Philippines, and Indonesia, and evaluates the macroeconomic performance of these countries. The author highlights the institutional details of FIT in each country and examines the inflation rates, targets, and expectations over time. In the case of Thailand, the author explains that the wide range of the core inflation rate was intentional to restore the credibility of the Bank of Thailand after the financial crisis of 1997-1998. The article also explores different approaches to evaluating the performance of inflation targeting, including time-series and cross-section comparisons. Overall, the findings suggest that FIT adoption has mainly resulted in lower inflation rates, although the difference is not decisive. [Extracted from the article]