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Inflation Targeting – Between Theory And Reality

Author

Listed:
  • Maria Vasilescu

    () (“Constantinn Brancusi” University of Târgu-Jiu, Romania)

  • Mariana Claudia Mungiu-Pupăzan

    () (“Constantinn Brancusi” University of Târgu-Jiu, Romania)

Abstract

The paper provides an analysis of the general inflation targeting framework and its implications on macroeconomic performance improvement. Usually, the strategies are similar across countries, but specific conditions related to financial system stability, bank independence, transparency or credibility may differ from country to country, despite their level of development. It also examines whether certain conditions have to be met before emerging countries pass to this regime of monetary policy and brings different evidence to these requirements. We then examine some of industrialized and emerging economies that have been assessed to prove to what extent the inflation targeting decision contributed to a successful functioning market economy.

Suggested Citation

  • Maria Vasilescu & Mariana Claudia Mungiu-Pupăzan, 2010. "Inflation Targeting – Between Theory And Reality," Annals of the University of Petrosani, Economics, University of Petrosani, Romania, vol. 10(3), pages 357-364.
  • Handle: RePEc:pet:annals:v:10:y:2010:i:3:p:357-364
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    Citations

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    Cited by:

    1. Dumitru Ciobanu, 2012. "The Horizon of Prediction for Exchange Rate Eur-Leu," Annals of the University of Petrosani, Economics, University of Petrosani, Romania, vol. 12(2), pages 85-92.
    2. Serhiy Shvets', 2014. "Actual issues of currency and price stability in Ukraine on the eve of inflation targeting regime introduction," Ukrainian Journal Ekonomist, Yuriy Kovalenko, issue 12, pages 14-18, December.

    More about this item

    Keywords

    inflation targeting; monetary policy; central banks; independence; transparency; credibility;

    JEL classification:

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

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