The author discusses some of the operational issues relevant to inflation-targeting in the United Kingdom, in particular: whether inflation-targeting is 'news'; whether it is potentially destabilizing; and whether it requires too much knowledge on the part of the authorities. He goes on to discuss the role of inflation forecasts in general, and inflation probability distributions in particular, in the context of inflation-targeting in the United Kingdom. It also discusses the role of transparency in such a regime and provides some evidence on its effect. Copyright 1998 by Scottish Economic Society.
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Volume (Year): 45 (1998) Issue (Month): 1 (February) Pages: 1-32 Download reference. The following formats are available: HTML
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