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Inflation Targeting as a Monetary Policy Rule

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  • Lars E.O. Svensson

Abstract

The purpose of the paper is to survey and discuss inflation targeting in the context of monetary policy rules. The paper provides a general conceptual discussion of monetary policy rules, attempts to clarify the essential characteristics of inflation targeting, compares inflation targeting to other monetary policy rules, and draws some conclusions for the monetary policy of the European System of Central Banks.

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Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 6790.

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Date of creation: Nov 1998
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Publication status: published as Journal of Monetary Economics, Vol. 43 (1999): 607-654.
Handle: RePEc:nbr:nberwo:6790

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