Basic Characteristics of Inflation Targeting in the Czech Republic
In: Evaluation of the Fulfilment of the CNB's Inflation Targets 1998-2007
This paper investigates basic characteristics of inflation targeting in the Czech Republic. The first part of the paper starts by briefly indicating some general macroeconomic conditions of inflation targeting in the Czech Republic, including the identification of the main shocks, which affected them. In addition, the extent of non-fulfilment of the inflation target in the Czech Republic is compared to the experience of several inflation targeting foreign countries. A comparison of the inflation target fulfilment in various phases of inflation targeting reveals a changing success rate in the fulfilment of the target in time. While deviations of inflation from the targets were very high in international comparison in the early phase of inflation targeting, the Czech National Bank has lately come closer to the characteristics of relatively more successful inflation targeters.
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- Katerina Smidkova & Jiri Behounek & Tibor Hledik & Josef Jilek & Miroslav Kostel & Ivana Matalikova & Dana Rottova & Jana Stankova, 1998.
"Koruna Exchange Rate Turbulence in May 1997,"
Archive of Monetary Policy Division Working Papers
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- Tomas Holub, 2004. "Foreign Exchange Interventions Under Inflation Targeting: The Czech Experience," Research and Policy Notes 2004/01, Czech National Bank, Research Department.
- Holub, Tomáš, 2004. "Foreign exchange interventions under inflation targeting: the Czech Experience," Research Notes 17, Deutsche Bank Research.
- Ales Bulir & Katerina Smidkova & Viktor Kotlan & David Navratil, 2007. "Inflation Targeting and Communication: Should the Public Read Inflation Reports or Tea Leaves?," Working Papers 2007/14, Czech National Bank, Research Department. Full references (including those not matched with items on IDEAS)
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