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Applying an Inflation-Targeting Lens to Macroprodential Policy "Institutions"

Author

Listed:
  • Günes Kamber

    (Reserve Bank of New Zealand, Centre for Applied Macroeconomic Analysis)

  • Özer Karagedikli

    (Reserve Bank of New Zealand)

  • Christie Smith

    (Reserve Bank of New Zealand, Centre for Applied Macroeconomic Analysis)

Abstract

We describe the origins of inflation targeting in New Zealand, and then use the four key attributes of inflation targeting—independence, the inflation target, transparency, and accountability—as an organizing device to analyze macroprudential policy “institutions”—the rules, regulations, and governance frameworks that implement macroprudential policies.

Suggested Citation

  • Günes Kamber & Özer Karagedikli & Christie Smith, 2015. "Applying an Inflation-Targeting Lens to Macroprodential Policy "Institutions"," International Journal of Central Banking, International Journal of Central Banking, vol. 11(4), pages 395-429, September.
    • Handle: RePEc:ijc:ijcjou:y:2015:q:4:a:13
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    2. Alberto Naudon & Andrés Pérez, 2017. "An Overview of Inflation-Targeting Frameworks: Institutional Arrangements, Decision-making, & the Communication of Monetary Policy," Working Papers Central Bank of Chile 811, Central Bank of Chile.
    3. Amber Wadsworth, 2017. "An international comparison of inflation-targeting frameworks," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 80, pages 1-34, August.
    4. Amber Wadsworth, 0. "An international comparison of inflation-targeting frameworks," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 80.
    5. Ioanna Kokores, 2015. "Lean-Against-the-Wind Monetary Policy: The Post-Crisis Shift in the Literature," SPOUDAI Journal of Economics and Business, SPOUDAI Journal of Economics and Business, University of Piraeus, vol. 65(3-4), pages 66-99, july-Dece.
    6. International Monetary Fund, 2016. "Sweden: Selected Issues," IMF Staff Country Reports 2016/354, International Monetary Fund.
    7. Chris Hunt, 2017. "Independence with accountability: financial system regulation and the Reserve Bank," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 80, December.

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    More about this item

    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
    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination

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