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Origins and early development of the inflation target

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  • Michael Reddell

    (Reserve Bank of New Zealand)

Abstract

Explicit inflation targeting was pioneered in New Zealand in the late 1980s. This article explains how the system gradually came about. It traces some of the early influences and thinking that had, by the end of 1990, given us pretty much the structures still in use today.

Suggested Citation

  • Michael Reddell, 1999. "Origins and early development of the inflation target," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 62, September.
  • Handle: RePEc:nzb:nzbbul:september1999:6
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    File URL: http://www.rbnz.govt.nz/-/media/ReserveBank/Files/Publications/Bulletins/1999/1999sep62-3Reddell.pdf
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    Cited by:

    1. Murray Sherwin., 2000. "Institutional frameworks for inflation targeting?," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 63, December.
    2. John Janssen, 2001. "New Zealand's Fiscal Policy Framework: Experience and Evolution," Treasury Working Paper Series 01/25, New Zealand Treasury.
    3. Scott Roger, 2009. "Inflation Targeting at 20 - Achievements and Challenges," IMF Working Papers 09/236, International Monetary Fund.
    4. Grant Spencer & Ozer Karagedikli, 2006. "Modelling for monetary policy: the New Zealand experience," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 69, pages 1-8., June.

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