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The Retreat of Inflation and the Making of Monetary Policy: Where Do We Stand?

Author

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  • José Viñals

Abstract

This document contains the text of the 1998 Central Banking Lecture delivered at the London School of Economics and Political Science on June 4th. It starts by asking what factors have been behind the remarkable retreat of inflation that has taken place internationally since the mid-eighties, then goes on to examine the contribution of monetary policy of this process, and concludes by commenting what can be learned from central banks' recent experience in seeking out alternative anti-inflationary monetary policy strategies.

Suggested Citation

  • José Viñals, 1998. "The Retreat of Inflation and the Making of Monetary Policy: Where Do We Stand?," Working Papers 9813, Banco de España.
    • Handle: RePEc:bde:wpaper:9813
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    File URL: http://www.bde.es/f/webbde/SES/Secciones/Publicaciones/PublicacionesSeriadas/DocumentosTrabajo/98/Fic/dt9813e.pdf
    File Function: First version, 1998
    Download Restriction: no
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    Cited by:

    1. Viñals, José, 2001. "Monetary Policy Issues in a Low Inflation Environment," CEPR Discussion Papers 2945, C.E.P.R. Discussion Papers.

    More about this item

    Keywords

    MONETARY POLICY; INFLATION;

    JEL classification:

    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation

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