Inflation targeting
by Lars E. O. Svensson
"Inflation targeting is a monetary-policy strategy that is characterized by an announced numerical inflation target, an implementation of monetary policy that gives a major role to an inflation forecast and has been called forecast targeting, and a high degree of transparency and accountability. It was introduced in New Zealand in 1990, has been very successful in terms of stabilizing both inflation and the real economy, and has, as of 2010, been adopted by about 25 industrialized and emerging-market economies. The chapter discusses the history, macroeconomic effects, theory, practice, and future of inflation targeting"--National Bureau of Economic Research web site.
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Inflation targeting: should it be modeled as an instrument rule or a targeting rule?
2002, National Bureau of Economic Research
in English
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Title from PDF file as viewed on 4/12/2011.
Includes bibliographical references.
Also available in print.
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Mode of access: World Wide Web.
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