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Inflation Targeting in Korea: An Empirical Exploration

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  • By Alexander W. Hoffmaister

    (International Monetary Fund)

Abstract

The revised Bank of Korea (BOK) Act states that the primary goal of monetary policy is price stability and recently monetary policy has moved toward an inflation targeting framework. This study explores some of the practical aspects that need to be considered for this move. In particular, issues such as the definition of the price index, the horizon over which to target inflation, and the width of the inflation target bands are considered. On balance, the empirical evidence suggests that Korea is likely to be successful in adopting an IT framework over the medium term. Copyright 2001, International Monetary Fund

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Bibliographic Info

Article provided by Palgrave Macmillan in its journal IMF Staff Papers.

Volume (Year): 48 (2001)
Issue (Month): 2 ()
Pages: 5

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Handle: RePEc:pal:imfstp:v:48:y:2001:i:2:p:5

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Cited by:
  1. Thorarinn G. Petursson, 2005. "Inflation Targeting and its Effects on Macroeconomic Performance," SUERF Studies, SUERF - The European Money and Finance Forum, number 2005/5 edited by Morten Balling.
  2. Aliyu, Shehu Usman Rano & Englama, Abwaku, 2009. "Is Nigeria Ready for Inflation Targeting?," MPRA Paper 14870, University Library of Munich, Germany, revised 26 Apr 2009.
  3. Joon-Ho Hahm & Frederic S. Mishkin, 2000. "Causes of the Korean Financial Crisis: Lessons for Policy," NBER Working Papers 7483, National Bureau of Economic Research, Inc.
  4. Nadia Saleem, 2010. "Adopting Inflation Targeting in Pakistan: An Empirical Analysis," Lahore Journal of Economics, Department of Economics, The Lahore School of Economics, vol. 15(2), pages 51-76, Jul-Dec.
  5. Brito, Ricardo D., 2010. "Inflation Targeting Does Not Matter: Another Look at OECD Economies’ Output Sacrifice Ratios," Insper Working Papers wpe_212, Insper Working Paper, Insper Instituto de Ensino e Pesquisa.

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