IDEAS home Printed from https://ideas.repec.org/b/ccb/hbooks/29.html
   My bibliography  Save this book

State of the art of inflation targeting

Author

Abstract

Inflation targeting has been adopted by an increasing number of central banks as their monetary policy framework. At the start of 2010, some twenty seven central banks were considered fully fledged inflation targeters, and many others are in the process of establishing a full inflation-targeting framework. In this Handbook we publish details of the key features of the inflation-targeting frameworks in each of the 27 inflation targeting central banks around the world. These data enable us to analyse the state of the art of inflation targeting: the legal and institutional arrangements; the design of the inflation target; the decision-making body and process of decision-making; the models and forecasts used by central banks; the accountability mechanisms in place, and the communication and publication strategies. This handbook was written in June 2009 and updated in 2012.

Suggested Citation

  • Gill Hammond, 2012. "State of the art of inflation targeting," Handbooks, Centre for Central Banking Studies, Bank of England, edition 4, number 29, March.
  • Handle: RePEc:ccb:hbooks:29
    as

    Download full text from publisher

    File URL: http://www.bankofengland.co.uk/education/ccbs/handbooks/pdf/ccbshb29.pdf
    File Function: English version
    Download Restriction: no

    File URL: http://www.bankofengland.co.uk/education/ccbs/handbooks/pdf/ccbshb29_ru.pdf
    File Function: Russian version
    Download Restriction: no

    File URL: http://www.bankofengland.co.uk/education/ccbs/handbooks/pdf/ccbshb29_arm.pdf
    File Function: Armenian version
    Download Restriction: no

    References listed on IDEAS

    as
    1. Refet S. Gürkaynak & Andrew T. Levin & Eric T. Swanson, 2006. "Does inflation targeting anchor long-run inflation expectations? evidence from long-term bond yields in the U.S., U.K., and Sweden," Working Paper Series 2006-09, Federal Reserve Bank of San Francisco.
    2. Laurence M. Ball & Niamh Sheridan, 2004. "Does Inflation Targeting Matter?," NBER Chapters,in: The Inflation-Targeting Debate, pages 249-282 National Bureau of Economic Research, Inc.
    3. Athanasios Orphanides & John Williams, 2004. "Imperfect Knowledge, Inflation Expectations, and Monetary Policy," NBER Chapters,in: The Inflation-Targeting Debate, pages 201-246 National Bureau of Economic Research, Inc.
    4. Charles Bean, 2004. "Inflation Targeting: The UK Experience," Perspektiven der Wirtschaftspolitik, Verein für Socialpolitik, vol. 5(4), pages 405-421, November.
    5. Zanetti, Francesco, 2009. "Effects of product and labor market regulation on macroeconomic outcomes," Journal of Macroeconomics, Elsevier, vol. 31(2), pages 320-332, June.
    6. Gill Hammond & Ravi Kanbur & Eswar Prasad (ed.), 2009. "Monetary Policy Frameworks for Emerging Markets," Books, Edward Elgar Publishing, number 13504.
    7. Marco Vega & Diego Winkelried, 2005. "Inflation Targeting and Inflation Behavior: A Successful Story?," International Journal of Central Banking, International Journal of Central Banking, vol. 1(3), December.
    8. Bean, Charles, 1998. "The New UK Monetary Arrangements: A View from the Literature," Economic Journal, Royal Economic Society, vol. 108(451), pages 1795-1809, November.
    9. Petra M. Geraats, 2009. "Trends in Monetary Policy Transparency," International Finance, Wiley Blackwell, vol. 12(2), pages 235-268, August.
    10. N. Nergiz Dincer & Barry Eichengreen, 2007. "Central Bank Transparency: Where, Why, and with What Effects?," NBER Working Papers 13003, National Bureau of Economic Research, Inc.
    11. M. H. Khalil Timamy, 2005. "Debate," Review of African Political Economy, Taylor & Francis Journals, vol. 32(104-105), pages 383-393, June.
    12. Andrew T. Levin & Fabio M. Natalucci & Jeremy M. Piger, 2004. "The macroeconomic effects of inflation targeting," Review, Federal Reserve Bank of St. Louis, issue Jul, pages 51-80.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Forecasting banknotes;

    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
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ccb:hbooks:29. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Maria Brady). General contact details of provider: http://edirc.repec.org/data/ccbgvuk.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.